Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

New credit licensing laws receive royal assent

Staff Reporter 1 minute read

The National Consumer Credit Protection Act 2009 (Act) has been given the final go ahead, receiving royal assent in the government publication the Gazette.

While the Act was passed through parliament on 23 November 2009, assent, which allows the legislation to be officially actioned, was announced yesterday.

Phase one of the reform package to be implemented under the new Act includes a comprehensive licensing regime for all credit service providers, responsible lending obligations, improved sanctions and enhanced enforcement powers for the regulator, the Australian Securities and Investments Commission (ASIC) and expanded consumer protection.

New credit licensing laws receive royal assent
default
TheAdviser logo

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

default

 

more from the adviser
Renee blethyn NextGen.Net appoints head of broker

NextGen.Net has appointed its inaugural national head of broker ...

BBS Summit 2021 ta Better Business Summit and Awards Sydney postponed

Due to the ongoing COVID-19 resurgence in Sydney, the NSW leg of ...

Andrew Moulds Darren Smith ta Lend adds FleetPartners to platform

Lend has integrated vehicle fleet leasing and fleet management pr...