Commonwealth Consolidated Acts

NATIONAL CONSUMER CREDIT PROTECTION ACT 2009 - SECT 29

Prohibition on engaging in credit activities without a licence

  (1)   A person must not engage in a credit activity if the person does not hold a licence authorising the person to engage in the credit activity.

Civil penalty:   5,000 penalty units.

Offence

  (2)   A person commits an offence if:

  (a)   the person is subject to a requirement under subsection   (1); and

  (b)   the person engages in conduct; and

  (c)   the conduct contravenes the requirement.

Criminal penalty:   2 years imprisonment.

Defences

  (3)   For the purposes of subsections   (1) and (2), it is a defence if:

  (a)   the person engages in the credit activity on behalf of another person (the principal ); and

  (b)   the person is:

  (i)   an employee or director of the principal or of a related body corporate of the principal; or

  (ii)   a credit representative of the principal; and

  (c)   the person's conduct in engaging in the credit activity is within the authority of the principal; and

  (d)   the principal holds a licence authorising the principal to engage in the credit activity.

Note:   For the purposes of subsection   (2), a defendant bears an evidential burden in relation to the matter in subsection   (3) (see subsection   13.3(3) of the Criminal Code ).

  (4)   For the purposes of subsections   (1) and (2), it is a defence if:

  (a)   the person engages in the credit activity on behalf of another person (the principal ); and

  (b)   the person is a representative of the principal; and

  (c)   the person's conduct in engaging in the credit activity is within the authority of the principal; and

  (d)   the principal is exempted from subsections   (1) and (2) under paragraph   109(1)(a), 109(3)(a) or 110(1)(a).

Note:   For the purposes of subsection   (2), a defendant bears an evidential burden in relation to the matter in subsection   (4) (see subsection   13.3(3) of the Criminal Code ).