NOTICE OF DECISION

To:


Strabane Car and Van Ltd

Dated:

7 September 2023

ACTION

1.
For the reasons given below, the Authority has decided to cancel Strabane Car and Van Ltd’s
Part 4A permission. The cancellation takes effect on the date of this Notice of Decision.


2.
The effect of the cancellation is that Strabane Car and Van Ltd no longer has permission to
carry on any regulated activities.


DEFINITIONS

3.
The definitions below are used in this Notice of Decision (and in the Annex):

“the Act” means the Financial Services and Markets Act 2000;

“the Authority” means the Financial Conduct Authority;

“EG” means the Enforcement Guide;

“the Further Notice” means the further notice issued by the Authority to Strabane Car and
Van Ltd dated 10 August 2023;

“the Handbook” means the Authority’s Handbook of rules and guidance;


“the Notice” means the notice issued by the Authority to Strabane Car and Van Ltd dated 29
June 2023;

“Part 4A permission” means permission to conduct regulated activities, granted by the
Authority under Part 4A of the Act;

“Strabane Car and Van Ltd’s Part 4A permission” means the Part 4A permission granted by
the Authority to Strabane Car and Van Ltd;

“SUP” means the Supervision Manual, part of the Handbook; and


“the Tribunal” means the Upper Tribunal (Tax and Chancery Chamber).

FACTS AND MATTERS

4.
Strabane Car and Van Ltd was authorised by the Authority on 22 June 2018 and given a Part
4A permission to conduct the following regulated activities in relation to consumer credit
business:

i.
agreeing to carry on regulated activity;

ii. credit broking;
iii. debt adjusting; and
iv. debt-counselling.

5.
Strabane Car and Van Ltd submitted regulatory returns to the Authority for the period 1
September 2021 to 31 August 2022 which show that Strabane Car and Van Ltd has not
generated any income from the regulated activities it is permitted to carry on. In addition,
there are no other matters that suggest Strabane Car and Van Ltd is carrying on regulated
activities.

6.
On 29 June 2023, the Authority gave Strabane Car and Van Ltd the Notice which stated that:

(a)
it appears to the Authority that Strabane Car and Van Ltd is carrying on no regulated
activity to which its Part 4A permission relates; and

(b)
the Authority may take action to cancel Strabane Car and Van Ltd’s Part 4A permission
unless it responds to the Notice in the manner specified in the directions to the Notice.

7.
Strabane Car and Van Ltd failed to respond to the Notice.

8.
As a result of the matters specified above, on 10 August 2023, the Authority gave Strabane
Car and Van Ltd the Further Notice which stated that:

a) the Authority considered that Strabane Car and Van Ltd is carrying on no regulated

activity to which its Part 4A permission relates; and


b) the Authority proposes to cancel Strabane Car and Van Ltd’s Part 4A permission on 7

September 2023 unless Strabane Car and Van Ltd takes the steps specified in the
directions to the Further Notice.

9.
Strabane Car and Van Ltd failed to take the steps specified in the Further Notice.

CANCELLATION OF PART 4A PERMISSION

10.
From the facts and matters described above, the Authority considers that Strabane Car and
Van Ltd is carrying on no regulated activities to which its Part 4A permission relates. The
Authority has therefore decided to cancel Strabane Car and Van Ltd’s Part 4A permission. The
cancellation of Strabane Car and Van Ltd’s Part 4A permission takes effect on the date of this
Notice of Decision.


11.
The statutory and regulatory provisions relevant to this Notice of Decision are set out in the
Annexes.

PROCEDURAL MATTERS



12.
This Notice of Decision is given to Strabane Car and Van Ltd under paragraph 3 of Schedule 6A
to the Act (variation or cancellation of Part 4A permission on initiative of FCA: additional
power).


The following paragraphs are important.

Annulment of the Authority’s decision

13.
If Strabane Car and Van Ltd is aggrieved by the decision to cancel its Part 4A permission as
set out in this Notice of Decision, Strabane Car and Van Ltd may make an application for an
annulment of the Authority’s decision under paragraph 4 of Schedule 6A to the Act.


14.
Strabane Car and Van Ltd must submit a completed application for an annulment of the
Authority’s decision to the Authority by 6 September 2024 and in the manner specified by
the Authority.

The Tribunal

15.
Strabane Car and Van Ltd does not have a right to refer the decision to give this Notice of
Decision to the Tribunal.


16.
The Authority intends to publish such information about the matter to which this Notice of
Decision relates as the Authority considers appropriate. The information may be published in
such manner as the Authority considers appropriate.

17. For more information concerning this matter generally, Strabane Car and Van Ltd should

contact Diluar Khan (direct line: 020 7066 5953).

Jeremy Parkinson
Enforcement and Market Oversight Division