National Consumer Credit Protection Act 2009
CHAPTER 3
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RESPONSIBLE LENDING CONDUCT
PART 3-5A
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MORTGAGE BROKERS AND MORTGAGE INTERMEDIARIES
Division 4
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Conflicted remuneration
Subdivision B
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Ban on accepting conflicted remuneration
SECTION 158NB
158NB
LICENSEE MUST NOT ACCEPT CONFLICTED REMUNERATION
A licensee must not accept conflicted remuneration in circumstances prescribed by the regulations if:
(a) the licensee is a mortgage broker; or
(b) the licensee is a mortgage intermediary.
View history note
Hide history noteA licensee must not accept conflicted remuneration in circumstances prescribed by the regulations if:
(a) the licensee is a mortgage broker; or
(b) the licensee is a mortgage intermediary.
Civil penalty: 5,000 penalty units.
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