Applications for licences before 1 Jul 2010
9 Applications for licences before 1 Jul 2010
Despite anything in this Act, on and after the referral day no application for a credit provider’s licence is to be made.
An application for a credit provider’s licence may be made to the Commissioner —
by a natural person of or over the age of 18 years; or
by a body corporate if all persons concerned in the management of the body corporate are of or over the age of 18 years.
An application shall be in writing in a form approved by the Minister, shall be accompanied by the prescribed fee and shall be signed —
where the application is made by a natural person —by that person; or
where the application is made —
by a body corporate having only 2 directors —by those directors; or
by a body corporate having more than 2 directors — by not fewer than 2 of those directors.
An application shall specify —
the name and address —
where the application is made by a natural person — of that person; or
where the application is made by a body corporate — of each director of the body corporate;
and
where the application is made by a body corporate — the date and place of incorporation of the body corporate, its corporate name and the address of its registered office or, if it is not incorporated in Australia, the address of the principal office in Australia; and
the address of the principal place in the State at which, and the name or names under which, the applicant intends to carry on business pursuant to the authority that would be conferred by the licence if it were granted; and
whether the applicant intends to carry on that business in partnership with another person; and
such matters as may be prescribed relating to the financial standing of applicants; and
such other matters as may be prescribed.
Where application is made for a licence and, before the application is granted or refused, a change occurs in the particulars specified in the application in accordance with subsection (3), the applicant shall, within 14 days after the occurrence of the change, give to the Commissioner notice, in writing signed by the applicant or, where the applicant is a body corporate, by a director of the body corporate, specifying particulars of the change.
Penalty: $1 000.
An applicant for a licence shall, if required to do so by the Commissioner, provide the Commissioner with such particulars additional to those included in the application as the Commissioner requires.
A person shall not in, or in relation to, an application under this section, a notice under subsection (4) or any particulars provided under subsection (5), make a statement that is false or misleading by reason of the inclusion therein of any false or misleading matter or the omission therefrom of any material matter.
Penalty: $5 000.
It is a defence to a prosecution of a person for an offence under subsection (6) if the person proves that, when the application was made, the notice given or the particulars provided, the person —
believed on reasonable grounds that the false matter was true; or
believed on reasonable grounds that the misleading matter was not misleading; or
in the case of an omission — believed on reasonable grounds that no material matter had been omitted; or
in the case of an omission — did not know that the omitted matter was material.
[Section 9 amended: No. 55 of 2004 s. 182 and 209(1); No. 14 of 2010 s. 18.]
This provision refers to the regulations (prescribed fee
). Made under this Act:
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