Financial Sector Reform (Hayne Royal Commission Response - Stronger Regulators (2019 Measures)) Act 2020 (3 of 2020)
Schedule 3 Licensing and false or misleading documents
Part 2 Australian credit licences
National Consumer Credit Protection Act 2009
49 After subsection 54(1)
Insert:
(1A) ASIC may cancel a licensee's licence if the licensee does not engage in the credit activities authorised by the licence before the end of 6 months after the licence is granted.
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