Check if you need a credit licence

If you plan to for consumer loans, mortgages or leases, or credit services such as acting as a broker, you may need a credit licence. You should check the requirements before you apply.

Credit activities that require a licence

You will generally need a credit licence to engage in credit activities.

Credit activities include:

• providing credit under a credit contract or consumer lease
• benefiting from mortgages or guarantees relating to a credit contract or consumer lease
• providing credit services for credit contracts and consumer leases
• providing debt management assistance or credit reporting assistance.

For further guidance, see:

Regulatory Guide 203 Do I need a credit licence? (RG 203)

Exemptions

You do not need a credit licence if:

• you are a representative of a credit licensee and you engage in credit activities on their behalf – for example, a credit representative or an employee or director of a credit licensee, or
• you, or the credit activities you engage in, are exempt from the credit licensing requirements.

To check which roles and credit activities are exempt, see Appendices 2 and 3 of RG 203.

Relief from holding a credit licence

If you are not already exempt, you can apply to ASIC for relief from the requirement to hold a credit licence. ‘Relief’ means an exemption. We will only grant relief if you meet certain criteria.

For information about applying for relief, see Credit: Relief.

Next steps

If you need a credit licence to run your business, you can find out how to apply for a credit licence.

Further guidance

Information Sheet 97 Guidance for small credit businesses (INFO 97)

Information Sheet 101 FAQs: Does the credit legislation apply? (INFO 101)

Information Sheet 110 Lenders with carried over instruments (INFO 110)

Information Sheet 112 Guidance for financial counsellors (INFO 112)

Information Sheet 129 National credit laws and book up: What you need to know (INFO 129)

Regulatory Guide 203 Do I need a credit licence? (RG 203)