National Consumer Credit Protection Act 2009

If a credit representative of a licensee gives a consumer the licensee’s credit guide when acting on behalf of the licensee under Part 3‑1, 3‑2, 3‑3 or 3‑4, the credit representative must at the same time give the consumer the credit representative’s credit guide in accordance with subsection (2).

Subsection (1) does not apply if the credit representative gives the consumer the licensee’s credit guide:

for the purpose of satisfying subsection 113(1) in connection with the provision of credit assistance to the consumer in relation a low cost credit contract; or

for the purpose of satisfying subsection 126(1) in connection with entry into a low cost credit contract with the consumer; or

for the purpose of satisfying subsection 127(1) in connection with the assignment to the licensee of rights or obligations of a credit provider under a low cost credit contract.

The credit representative’s credit guide must:

be in writing; and

be in the form (if any) prescribed by the regulations; and

specify the credit representative’s name and contact details; and

specify the credit representative’s credit representative number; and

give information about:

any fees that are payable by a consumer to the credit representative for acting as a credit representative; and

any charges that are payable by a consumer to the credit representative for matters associated with acting as a credit representative; and

the method for working out the amount of the fees and charges; and

give information about:

if there are 6 or fewer licensees for whom the credit representative is a credit representative—the names of those licensees; and

if there are more than 6 licensees for whom the credit representative is a credit representative—the names of the 6 licensees for whom the credit representative reasonably believes it conducts the most business; and

the credit activities the credit representative is authorised to engage in on behalf of the licensees referred to in subparagraph (i) or (ii); and

give information about:

any indirect remuneration the credit representative is likely to receive, directly or indirectly, from those licensees; and

a reasonable estimate of the amounts of that indirect remuneration or the range of those amounts; and

the method for working out those amounts; and

give information about the credit representative’s procedure for resolving disputes with a consumer, including contact details for a consumer to access the AFCA scheme; and

comply with any other requirements prescribed by the regulations.

The regulations may prescribe:

information that need not be included in the credit guide, despite subsection (2); and

for the purposes of paragraph (2)(g):

the method for working out amounts of indirect remuneration; and

how indirect remuneration or amounts of indirect remuneration must be described.

The credit representative must give the consumer the credit representative’s credit guide in the manner (if any) prescribed by the regulations.

A person commits an offence if:

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

the person engages in conduct; and

the conduct contravenes the requirement.

Subsection (5) is an offence of strict liability.

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