National Consumer Credit Protection Act. Australia

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СКАЧАТЬ person commits an offence if:

      a) the person is subject to a requirement under subsection (1); and

      b) the person engages in conduct; and

      c) the conduct contravenes the requirement.

      Criminal penalty: 100 penalty units, or 2 years imprisonment, or both.

      70 Obligation to vary or revoke authorisation that ceases to have effect

      Requirement to vary or revoke authorisation

      1) If a person:

      a) has authorised a credit representative under subsection 64(1) or 65(1); and

      b) becomes aware of a matter because of which the authorisation of the credit representative has ceased to have effect under this Division;

      the person must, as soon as practicable:

      c) revoke the authorisation; or

      d) vary the authorisation so that it is no longer, to any extent, of no effect under this Division.

      Civil penalty: 2,000 penalty units.

      Offence

      2) A person commits an offence if:

      a) the person is required to vary or revoke an authorisation under subsection (1); and

      b) the person engages in conduct; and

      c) the conduct contravenes subsection (1).

      Criminal penalty: 100 penalty units, or 2 years imprisonment, or both.

      71 Obligation to notify ASIC etc. about credit representatives

      Requirement to notify ASIC when credit representative authorised

      1) If a person authorises a credit representative under subsection 64(1) or 65(1), the person must, within 15 business days of the authorisation, lodge with ASIC a written notice in accordance with subsection (3).

      Civil penalty: 2,000 penalty units.

      Requirement to notify licensee of sub-authorisation

      2) If:

      a) a person authorises a natural person as a credit representative of a licensee under subsection 65(1) (which deals with sub-authorisations); and

      b) the consent of the licensee to the authorisation was given in relation to a specified class of natural persons;

      then the person must, within 15 business days of the authorisation, give the licensee written notice of the authorisation in accordance with subsection (3).

      Civil penalty: 2,000 penalty units.

      Details to be included in notice

      3) The notice must include the following details:

      a) the name and business address of the credit representative;

      b) details of the authorisation, including the date on which it was made and what the credit representative is authorised to do on behalf of the licensee;

      c) details of the external dispute resolution scheme of which the credit representative is a member;

      d) details of each other licensee on behalf of whom the credit representative is a credit representative.

      Requirement to notify ASIC of change in details etc.

      4) If:

      a) a person authorises a credit representative under subsection 64(1) or 65(1); and

      b) either:

      i) any of the details that are referred to in subsection (3) in relation to the credit representative changes; or(ii) the person revokes the authorisation;

      then the person must, within 10 business days of the change or revocation, lodge with ASIC a written notice of the change or revocation.

      Civil penalty: 2,000 penalty units.

      5) A notice given under subsection (1), (2) or (4) must be in the approved form.

      Strict liability offence

      6) A person commits an offence if:

      a) the person is subject to a requirement to give a notice under subsection (1), (2) or (4); and

      b) the person engages in conduct; and

      c) the conduct contravenes the requirement.

      Criminal penalty: 25 penalty units, or 6 months imprisonment, or both.

      7) Subsection (6) is an offence of strict liability.

      Note: For strict liability, see section 6.1 of the Criminal Code.

      72 Credit representative numbers

      (1) Within a reasonable period after receiving a notice under subsection 71(1) of the authorisation of a credit representative, ASIC must allocate the credit representative a unique credit representative number.

      (2) ASIC must give written notice of the credit representative number to:

      (a) the credit representative; and

      (b) the person who authorised the credit representative.

      (3) This section does not apply in relation to a credit representative that has already been allocated a credit representative number.

      Division 3—Information about representatives

      73 ASIC may give licensee information about representatives

      ASIC may give licensee information about representatives

      1) If ASIC considers it appropriate to do so, it may give information to a licensee about a person whom ASIC believes is, or will be, a representative of the licensee. However, ASIC may only do so if it believes, on reasonable grounds, that the information is true.

      Requirements about use of information

      2) A licensee to whom information is given under subsection (1) may make use of, make a record of, or give to another person, the information for a purpose connected with:

      a) the licensee making a decision about what action (if any) to take in relation to the representative, as a consequence of receiving the information; or

      b) the licensee taking action pursuant to such a decision.

      3) A licensee to whom information is given under subsection (1) must not make use of, СКАЧАТЬ