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Credit representatives




Credit representatives are authorised to engage in specified credit activities on behalf of a credit licensee. They can be authorised to engage in some or all of the activities authorised by the licence.

For example, a licensee authorised to engage in activities other than as a credit provider can authorise a representative to engage in these activities but not to provide credit.


Can you be a credit representative of two or more credit licensees?
Can a credit licensee also be a credit representative?
How to authorise credit representatives
Monitoring and supervising representatives
How to notify ASIC of credit representative details
How to make bulk appointments
Body corporate credit representatives and sub-authorisations
Employees and directors of a licensee do not need to be authorised as representatives
Licensees that are partnerships


Can you be a credit representative of two or more credit licensees?


A person may be a credit representative of two or more credit licensees if:

When a licensee notifies us of the authorisation of a person who is already a credit representative of another credit licensee, the notification must include the details of the other credit licensee and confirm their consent for the authorisation.


Can a credit licensee also be a credit representative?


A person can be a credit licensee and a representative but only where they are for different authorised credit activities. For example, you can be a licensee authorised to engage in credit activities as a credit provider or lessor and be authorised to provide credit assistance as a credit representative.
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How to authorise credit representatives


If a licensee is intending to authorise a credit representative they should:
  1. Undertake background checks on that representative.
  2. Ensure that they are adequately trained to engage in credit activities.
  3. Ensure that they have current external dispute resolution (EDR) scheme membership before the authorisation is given.
  4. Provide written consent to the appointment
  5. Ensure they have adequate systems and procedures in place to monitor and supervise their representatives (see Monitoring and Supervising representatives).


Background checks


Licensees should make relevant inquiries into the background of the people that they authorise as credit representatives, both before appointing them and while they continue to act as representatives.

These checks could include referee reports, searches of our register of banned and disqualified persons, and police checks.

The authorisation of a credit representative is of no effect if the following applies to the representative when the authorisation is given:

An authorisation will also cease to have effect if the authorised person becomes subject to the above matters after the authorisation is given.

It is an offence to purport to give an authorisation that is of no effect, or to fail to vary or revoke an authorisation that has later ceased to have effect.
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Training requirements


Credit representatives must be adequately trained and competent to engage in the credit activities authorised by the credit licensee.

Credit licensees must determine the appropriate training for their credit representatives on appointment and while they continue to act as representatives, to comply with their obligation to ensure that their representatives are adequately trained and competent to engage in the credit activities. If industry standards exist for sectors of the credit industry or for specific products, we expect that licensees will ensure their representatives are trained at least to the level of the industry standard.

Credit representatives who provide mortgage broking services must:

See Regulatory Guide 206 Credit licensing: Competence and training (RG 206) for more information.


EDR scheme


A credit representative must be a member of an ASIC-approved EDR scheme.

If the credit representative does not have EDR scheme membership at the time of authorisation the authorisation has no effect. If a credit representative ceases to be a member of an approved EDR scheme, the authorisation ceases to have effect.

ASIC approved external dispute resolution schemes are:
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Written consent


A licensee must give written notice to any person they authorise as a credit representative. A licensee must also give its written consent to enable a body corporate credit representative to sub-authorise a natural person to engage in credit activities on behalf of the licensee.

A body corporate that is a credit representative of a licensee must give written notice to any person they sub-authorise.

Both the credit representative and the licensee should retain a copy of the consent for their records.


Monitoring and supervising representatives


Licensees have a continuous obligation to monitor and supervise their representatives to ensure that they are adequately trained and competent to act as their credit representative and are complying with the credit legislation.

See Regulatory Guide 205 Credit licensing: General conduct obligations (RG 205) for more information.

If for any reason the appointment becomes legally invalid after it has been made, you must cease that representative and notify us.
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How to notify ASIC of credit representative details


Licensees and corporate credit representatives must tell us when:

How to change details


Details that must be provided about credit representatives


On the appointment of a credit representative, the licensee or the corporate credit representative must notify ASIC of the following details about the credit representative:


Details needed if a credit representative also represents other licensees


If the credit representative also represents other credit licensees the licensee or corporate credit representative must notify ASIC:
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Details needed if a credit representative is a body corporate


For a credit representative that is a body corporate they must have written consent to authorise a natural person to engage in credit activities on behalf of the licensee making the notification.


What to do when a credit representative doesn’t have the same authorisations as the licensee


If the credit representative does not have exactly the same authorisations as the licensee we must be advised of the activities the credit representative can engage in on behalf of the licensee.

The licensee or the corporate credit representative must also ensure that the following statements are true for this credit representative:

Form CL30 is the form to use for notification of appointment of a credit representative. This form is available through the Australian Credit Register portal and AFS licensee portal.
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How to make bulk appointments


A maximum of 200 notifications can be made on the standard forms for online notification. If you need to make more than 200 notifications, you will have to lodge an additional form.

There is no charge for lodging these forms online, but if lodged after the lodgement period, late fees apply.

Download a guide that shows how the bulk upload works with Forms CS03 and CL30


XML Schema to facilitate bulk authorisation uploads



We have provided an XML schema to facilitate bulk uploads. It is standard industry practice to use XML schemas to define message content (Elements, Element Order and Element Types).

The online forms allow XML file attachments with representative details. This loads the information you provide into the online form without you having to key it in yourself.

The data must comply with the XML schema and with our business rules or it will not be accepted.

Download a copy of the XML schema for CL30
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Body corporate credit representatives and sub-authorisations


Licensees can authorise a body corporate as a credit representative. As bodies corporate can only engage in credit activities through the conduct of a natural person they may, with the consent of the licensee, sub-authorise a natural person or persons to engage in credit activities on behalf of the licensee. No other form of sub-authorisation is permitted under the National Credit Act.

Sub-authorised representatives are regarded as the credit representatives of the licensee, not of the corporate credit representative. The corporate credit representative must be a member of an EDR scheme. There is no requirement for individual directors and employees sub-authorised by a body corporate credit representative to hold separate EDR scheme membership.


Employees and directors of a licensee do not need to be authorised as representatives


The employees and directors of a credit licensee (or of a related body corporate of the licensee) do not need to be formally authorised. They can act as representatives of the licensee without a formal authorisation.


Licensees who are partnerships


Unless the individual partners who engage in credit activities on behalf of the partnership are ‘employees’ of the partnership, they must be authorised as credit representatives.

A partner authorised as a credit representative must have separate EDR scheme membership.
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