Home ACL Support Services

ACL Support Packages

Individuals and businesses providing credit services are now required under the National Consumer Credit Protection Act (NCCP) to act under an Australian Credit Licence (ACL). This legislation requires anyone providing credit related services to consumers to either hold an Australian Credit Licence (ACL) or be appointed as an authorised representative under a Credit Licence.  Most groups, aggregators and franchises offer their members the ability to become an Authorised Representative.

Licensing attracts a number of significant obligations and requires the implementation of formalised systems and procedures. These systems and procedures need to compliant with Australian Securities and Investments Commission (ASIC) guidelines. While most participants in the industry have most of these requirements in some form, compiling them in a format acceptable to ASIC can be a major challenge. This challenge can be compounded with the time pressures of running a successful business while trying to create and compile systems to comply.

ASIC will regulate and enforce the new licensing regime. Among other things, it will have the power to suspend or cancel a licence with or without a hearing (depending on the circumstances), to make orders banning any person from engaging in credit activities and to make adverse publicity orders. 

CreditLicencing.com.au support packages can assist your business with registration, licensing and meeting the obligations imposed under the new and existing Australian Credit Licence laws and regulations, including responsible lending requirements and disclosure obligations.

CreditLicencing.com.au is a joint venture between Mortgage Broking Training and Compliance expert Walker & Miller and AFS Licence and Risk Services specialist My Dealer Services.

Our combined expertise is equipped to help your business engaged in credit activities to meet its obligations under the new national consumer credit laws which commenced on 1 July 2010. All State and Territory credit laws and the Uniform Consumer Credit Code have been replaced by the National Consumer Credit Protection Act 2009.

Criminal penalties of up to five years imprisonment and civil penalties of up to $220,000 for an individual and $1.1 million for a corporation will also apply to certain breaches of the ACL regime, but more importantly non compliance can put you out of business instantly.

Support for Australian Credit Licences is available to assist you and your business ensure compliance. 

 Click Here For Australian Credit Licence Packages.