You must be covered by an Australian credit licence to engage in credit activities.
If you engage in credit activities you will generally need to have an Australian credit licence (unless you are exempt or authorised to engage in those activities as a representative of a credit licensee).
Credit activity includes:
- providing credit under a credit contract or consumer lease
- benefiting from mortgages or guarantees relating to a credit contract
- exercising rights or performing obligations of a credit provider or lessor (either as the credit provider or lessor or on behalf of another person who is the credit provider or lessor)
- suggesting or assisting with a particular credit contract or consumer lease
- acting as an intermediary between a credit provider and a consumer (for a credit contract) or between a lessor and a consumer (for a consumer lease).
You will need to have your credit licence or authorisation from the day you start your business. Strict penalties may apply to persons who unlawfully engage in credit activities.
ASIC assesses applications for credit licences as part of our role as regulator of the consumer credit industry.
Consumers should be aware that the licensing process is a point-in-time assessment of the licensee, not of its owners or employees. Holding a credit licence does not guarantee the probity or quality of the licensee’s services.
- RG 204 Applying for or varying a credit licence
- Lodge an annual compliance certificate using Form CL08
- Log into or search the Australian credit register
More in this section
- Do you need a credit licence?: Check if you need a credit licence for your business
- Applying for and managing your credit licence: How to apply for a credit licence
- Your ongoing obligations as a credit licensee: What you must do as a credit licensee
- Changing details and lodging documents: Update your details and lodge forms
- Varying or cancelling your credit licence: If your circumstances change you may need to vary or cancel your licence
- More information about credit licensing: Other information and resources