s 66
In forceCredit representative of 2 or more licensees
Volume 1Chapters 1 to 6 (sections 1 to 322)
Chapter 2Licensing of persons who engage in credit activities
Part 2-2Australian credit licences
Division 5Obligations of licensees
Subdivision BProviding information and assistance to ASIC
66 Credit representative of 2 or more licensees
(1)
One person can be the credit representative of 2 or more licensees, but only if:
(a)
each of those licensees has consented to the person also being the credit representative of each of the other licensees; or
(b)
each of the licensees is a related body corporate of each of the other licensees.
(2)
An authorisation:
(a)
is of no effect if it contravenes subsection (1) when it is given; and
(b)
ceases to have effect if and when it starts to contravene subsection (1) after it is given.
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