National Consumer Credit Protection Act 2009
View history note
Hide history noteRequirement to notify ASIC if licensee does not engage in credit activities
53B(1)
If a licensee does not engage in the credit activities authorised by the licence before the end of 6 months after the licence is granted, the licensee must lodge a notification with ASIC:
(a) in the approved form; and
(b) before the end of 15 business days after the end of the 6 months.
Strict liability offence
53B(2)
A person commits an offence if:
(a) the person is subject to a requirement under subsection (1) to lodge a notification with ASIC; and
(b) the person engages in conduct; and
(c) the conduct contravenes the requirement.
Criminal penalty: 30 penalty units.
53B(3)
Subsection (2) is an offence of strict liability.
Note:
For strict liability, see section 6.1 of the Criminal Code .
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