ASIC has cancelled the Australian credit licence (ACL) of NSW based credit provider Auckland Finance Pty Ltd.

The ACL cancellation took effect on 31 January 2025.

The ACL was cancelled after ASIC became aware that Auckland Finance had not engaged in credit activities for some time. Under the National Consumer Credit Protection Act 2009, ASIC may suspend or cancel an ACL if a credit provider has ceased engaging in credit activities.

Background

Auckland Finance held ACL number 393572 since 31 March 2011. It was authorised to engage in credit activities as a credit provider.

Auckland Finance has the right to appeal to the Administrative Review Tribunal for a review of ASIC's decision.