National Consumer Credit Protection Act 2009

CHAPTER 2 - LICENSING OF PERSONS WHO ENGAGE IN CREDIT ACTIVITIES  

PART 2-1 - REQUIREMENT TO BE LICENSED TO ENGAGE IN CREDIT ACTIVITIES  

Division 3 - Other prohibitions relating to the requirement to be licensed  

SECTION 30   PROHIBITIONS ON HOLDING OUT AND ADVERTISING ETC.  
Prohibitions on holding out and advertising etc.

30(1)    
A person must not hold out:

(a) that the person holds a licence; or

(b) that the person holds a licence authorising the person to engage in a particular credit activity; or

(c) that a credit activity engaged in by the person or by someone else is exempt from a requirement to hold a licence; or

(d) that, in engaging in a credit activity, the person acts on behalf of another person; or

(e) that conduct, or proposed conduct, of the person is within the authority of a licensee;

if that is not the case.

Civil penalty: 5,000 penalty units.

30(2)    

A person must not hold out or advertise that the person engages or is able to engage in a credit activity if the person would, if the person engaged in the credit activity, contravene section 29 (which deals with the requirement to be licensed).

Civil penalty: 5,000 penalty units.

Offence

30(3)    

A person commits an offence if:

(a) the person is subject to a requirement under subsection (1) or (2); and

(b) the person engages in conduct; and

(c) the conduct contravenes the requirement.

Criminal penalty: 1 year imprisonment.