6
In forceCredit providers to be licensed until 1 Jul 2010
Part IILicences
Division 1Requirement to be licensed
6 Credit providers to be licensed until 1 Jul 2010
(1A)
On and after the referral day, subsections (1) and (2) have no effect.
(1)
Subject to this Act, a person shall not carry on a business of providing credit unless the person is the holder of a credit provider’s licence.
Penalty: $10 000.
(2)
Subject to this Act, a natural person shall not hold himself or herself out, and a body corporate shall not hold itself out, as carrying on a business of providing credit unless the person or body corporate, as the case may be, is the holder of a credit provider’s licence.
Penalty: $5 000.
[Section 6 amended: No. 14 of 2010 s. 17.]
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