Delayed licence commencement
You can request a delay to the commencement of your credit licence (if it is granted). You may wish to do this to, for example:
have additional time to make sure that your business systems and processes will be in place before you start to engage in credit activities under your credit licence; or
ensure that your obligation to prepare and lodge an annual compliance certificate arises at a convenient time for you.
Note: As a credit licensee, you must lodge an annual compliance certificate every year within 45 days of your annual compliance date. Your annual compliance date is the anniversary of the day on which your licence commenced.
The delayed commencement date must be within three months of the date that you submit your online application.
If we decide to grant a licence with a delayed commencement, we will issue a credit licence that specifies the date on which it will take effect (the effective date).
If you are granted a licence with a delayed commencement, you will not be able to engage in credit activities until the effective date.
This information comes from Regulatory Guide 204.