Consumer Credit Licences for Higher Education Institutions

Key points: Consumer Credit Licence required by HEIs for tuition fee repayment plans of five or more instalments or payable outside 12 months, for debt counselling, and for the provision of loans; relevant category must be selected for Consumer Credit Licences; unlicensed activities unenforceable against the debtor (and an offence); validation of agreements may be available, but is not automatic; new provisions to transfer the responsibility for regulating the consumer credit market from the OFT to a new body.

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Extension of EMI for Academics

Under the Enterprise Management Incentive (EMI) scheme, a company (or a company and its subsidiaries) with assets of less than £30 million and fewer than 250 full time equivalent employees is able to award tax advantaged share options to selected employees, provided they meet certain criteria.

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