National Consumer Credit Protection Act 2009
CHAPTER 2
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LICENSING OF PERSONS WHO ENGAGE IN CREDIT ACTIVITIES
PART 2-3
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CREDIT REPRESENTATIVES AND OTHER REPRESENTATIVES OF LICENSEES
Division 2
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Authorisation of credit representatives
SECTION 66
CREDIT REPRESENTATIVE OF 2 OR MORE LICENSEES
66(1)
[
May be credit representative if consent or licensees related body corporate of each other licensee]
(a) each of those licensees has consented to the person also being the credit representative of each of the other licensees; or
(b) each of the licensees is a related body corporate of each of the other licensees. 66(2) [ When authorisation has no effect]
(a) is of no effect if it contravenes subsection (1) when it is given; and
(b) ceases to have effect if and when it starts to contravene subsection (1) after it is given.
One person can be the credit representative of 2 or more licensees, but only if:
(a) each of those licensees has consented to the person also being the credit representative of each of the other licensees; or
(b) each of the licensees is a related body corporate of each of the other licensees. 66(2) [ When authorisation has no effect]
(a) is of no effect if it contravenes subsection (1) when it is given; and
(b) ceases to have effect if and when it starts to contravene subsection (1) after it is given.
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