National Consumer Credit Protection Act 2009

CHAPTER 2 - LICENSING OF PERSONS WHO ENGAGE IN CREDIT ACTIVITIES  

PART 2-3 - CREDIT REPRESENTATIVES AND OTHER REPRESENTATIVES OF LICENSEES  

Division 4 - Liability of licensees for representatives  

SECTION 76   REPRESENTATIVES OF MULTIPLE LICENSEES  
When this section applies

76(1)    
This section applies if the representative is the representative of more than one licensee.

Conduct covered by only one authority

76(2)    
If:

(a) the representative is the representative of one of the licensees only in relation to a particular class of credit activity; and

(b) the conduct relates to that class of credit activity;

that licensee is responsible for the conduct, as between that licensee and the client, whether or not the conduct is within the authority of the licensee.

Conduct covered by multiple authorities

76(3)    
If:

(a) the representative is the representative of more than one of the licensees in relation to a particular class of credit activity; and

(b) the conduct relates to that class of credit activity; and

(c) the conduct is within the authority of:

(i) only one of those licensees (the authorising licensee ); or

(ii) 2 or more of those licensees (the authorising licensees );

then:

(d) if subparagraph (c)(i) applies - the authorising licensee is responsible for the conduct, as between that licensee and the client; or

(e) if subparagraph (c)(ii) applies - the authorising licensees are jointly and severally responsible for the conduct, as between themselves and the client.

All other cases

76(4)    
In any other case, all of the licensees are jointly and severally responsible for the conduct, as between themselves and the client, whether or not the representative ' s conduct is within the authority of any of them.