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 31   PROHIBITION ON CONDUCTING BUSINESS WITH UNLICENSED PERSONS  
Prohibition on conducting business with unlicensed persons

31(1)    
A licensee must not:

(a) engage in a credit activity; and

(b) in the course of engaging in that credit activity, conduct business with another person who is engaging in a credit activity;

if, by engaging in the credit activity, the other person contravenes section 29 (which deals with the requirement to be licensed).

Civil penalty: 5,000 penalty units.

Offence

31(2)    

A person commits an offence if:

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

(b) the person engages in conduct; and

(c) the conduct contravenes the requirement.

Criminal penalty: 2 years imprisonment.