National Consumer Credit Protection Act 2009

CHAPTER 3 - RESPONSIBLE LENDING CONDUCT  

PART 3-2CA - LICENSEES SUPPLYING CREDIT INFORMATION TO CREDIT REPORTING BODIES ETC.  

Division 5 - Assisting ASIC  

SECTION 133CZI   OBLIGATION TO PROVIDE ASIC WITH ASSISTANCE IF REASONABLY REQUESTED  

Requirement to provide assistance

133CZI(1)    
If ASIC, or a person authorised by ASIC, reasonably requests assistance from a Part 3-2CA body (the assisting body ) about whether:

(a)    the assisting body; or

(b)    another Part 3-2CA body;

is complying with this Part (other than Division 4 ), the assisting body must give ASIC or the authorised person the requested assistance.

Civil penalty: 5,000 penalty units.

133CZI(2)    
If the request is in writing, it is not a legislative instrument.

Offence

133CZI(3)    
A person commits an offence if:

(a)    the person is subject to a requirement to give ASIC or an authorised person assistance under subsection (1); and

(b)    the person engages in conduct; and

(c)    the conduct contravenes the requirement.

Criminal penalty: 6 months imprisonment.