National Consumer Credit Protection Act 2009

CHAPTER 3 - RESPONSIBLE LENDING CONDUCT  

PART 3-5A - MORTGAGE BROKERS AND MORTGAGE INTERMEDIARIES  

Division 4 - Conflicted remuneration  

Subdivision B - Ban on accepting conflicted remuneration  

SECTION 158NB  

158NB   LICENSEE MUST NOT ACCEPT CONFLICTED REMUNERATION  

A licensee must not accept conflicted remuneration in circumstances prescribed by the regulations if:

(a) the licensee is a mortgage broker; or

(b) the licensee is a mortgage intermediary.

Civil penalty: 5,000 penalty units.