National Consumer Credit Protection Act 2009

CHAPTER 2 - LICENSING OF PERSONS WHO ENGAGE IN CREDIT ACTIVITIES  

PART 2-3 - CREDIT REPRESENTATIVES AND OTHER REPRESENTATIVES OF LICENSEES  

Division 2 - Authorisation of credit representatives  

SECTION 66   CREDIT REPRESENTATIVE OF 2 OR MORE LICENSEES  

66(1)   [ May be credit representative if consent or licensees related body corporate of each other licensee]  

One person can be the credit representative of 2 or more licensees, but only if:


(a) each of those licensees has consented to the person also being the credit representative of each of the other licensees; or


(b) each of the licensees is a related body corporate of each of the other licensees.

66(2)   [ When authorisation has no effect]  

An authorisation:


(a) is of no effect if it contravenes subsection (1) when it is given; and


(b) ceases to have effect if and when it starts to contravene subsection (1) after it is given.




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