Credit Law & NCCP Act

In 2009, we saw the introduction of the National Consumer Credit Protection Act 2009 (NCCP Act).  The NCCP Act introduced a licensing scheme for participants in the consumer credit industry and nationalised the Consumer Credit Code. 

Those wanting to participate in the consumer credit area (such as brokers, lenders, small amount lenders, lessors, rental companies, referrers, debt management companies and aggregators etc) need to consider: 
  1. whether you're caught by the Australian Credit Licensing regime; 
  2. if you qualify for an exemption; 
  3. the type of ACL you need to apply for; and 
  4. how to meet the other requirements of the legislation, such as responsible lending. 

Australian Credit Licence (ACL) holders have several ongoing obligations:  
  • Lodge an Annual Compliance Certificate
  • Maintain compliance disclosure documentation
  • Have adequate arrangements in place to comply with the licensee's fundamental obligations
  • Responsible lending
  • Training
We can help.  Contact our office to find out more.


  • By David Court

    Part III: Who’s in control? Changes of control to ACL holders and your obligations

    Wednesday, 9 December 2015
    This blog considers ACL holders’ similar obligation to identify changes in control and to report these changes to ASIC in the appropriate manner. 

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  • By Tim Nethercote

    Top 10 Mistakes Credit Licensees are making - and how to prevent them

    Tuesday, 11 August 2015
    We have put together a list of the most common mistakes licensees make that we have seen, and how to avoid them.  Although some of these are specific to the credit industry, many of the points are applicable to AFSL holders as well.

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  • By Michelle Chasser

    Can you sign the Annual Compliance Certificate?

    Tuesday, 28 April 2015
    If you are a credit licensee, you must lodge an annual compliance certificate with ASIC within 45 days of your licensing anniversary each year. Your licensing anniversary is the anniversary of the day on which your credit licence was issued. Only certain people can sign the annual compliance certificate. Who those people are will depend on the type of legal entity which holds the licence.

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Compliance