Commonwealth Consolidated Acts

NATIONAL CONSUMER CREDIT PROTECTION ACT 2009 - SECT 158LB

    If the licensee knows, or reasonably ought to know, that there is a conflict between the interests of the consumer and the interests of:

  (a)   the licensee; or

  (b)   an associate of the licensee; or

  (c)   a representative of the licensee; or

  (d)   an associate of a representative of the licensee;

the licensee must give priority to the consumer's interests when providing the credit assistance.

Civil penalty:   5,000 penalty units.