Vary your credit licence

If your circumstances change, you may need to vary or cancel your licence.

The following are situations where you may need to vary the conditions of your licence:

The nature of your business changes – for example, you want to engage in credit activities that are not authorised under your existing credit licence.

One of the conditions of your licence changes – for example, if you have a ‘key person’ condition on your licence and that person leaves your business.

How to vary your licence

To vary your credit licence, you need to complete and lodge Form CL03 Vary authorisations or conditions of an Australian credit licence, online.

Please ensure that the online application and declarations are submitted by:

  • for a natural person applicant, the person applying for the licence

  • for a corporate applicant, a director of the corporation applying for the licence, or

  • an authorised agent of the applicant.

What happens after we receive your request to vary your licence?

An ASIC staff member will contact you to discuss your application. To ensure that we can contact you efficiently, please provide the direct telephone number of the contact person for the licence variation application.

We aim to decide whether to vary a credit licence within 60 days; however, this will take longer if the application raises complex or new policy issues, or if you don't give us all the information we need.

Signing documents

Some documents that you must provide require a signature. These are to be signed by:

  • for a natural person applicant, the person applying for the licence

  • for a corporate applicant, a director of the corporation applying for the licence, or

  • an authorised agent of the applicant.

Read Regulatory Guide 204: Applying for and varying a credit licence, for more information on the conditions of varying your licence.

You may need to cancel your licence

Cancel your credit licence if you:

  • no longer need your credit licence

  • intend on becoming a credit representative and the credit activities you engage in as such are the same as those covered by your licence.

How to cancel your licence

More information about varying your licence

Read Regulatory Guide 204: Applying for and varying a credit licence

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Last updated: 20/10/2014 12:00