National Consumer Credit Protection Act 2009

CHAPTER 2 - LICENSING OF PERSONS WHO ENGAGE IN CREDIT ACTIVITIES

PART 2-2 - AUSTRALIAN CREDIT LICENCES

Division 3 - How to get an Australian credit licence

SECTION 44

44 BASIS ON WHICH LICENCE IS GRANTED
A licence granted under this Division is granted on the basis that:

(a) conditions on the licence may be imposed, varied or revoked under section 45 or 46; and

(b) the licence may be suspended under section 54 , 55 or 56 ; and

(c) the licence may be cancelled under section 54 , 55 or 56 ; and

(d) the licence may be varied under section 57 ; and

(e) the licence may be cancelled, revoked, terminated or varied by or under later legislation; and

(f) no compensation is payable if:

(i) conditions on the licence are imposed, varied or revoked as referred to in paragraph (a); or

(ii) the licence is suspended, cancelled, varied, revoked or terminated as referred to in paragraphs (b) to (e).

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