The Consumer Credit (Administration) Act 1996 determine eligibility for registration as a Finance Broker

An application for registration may be made by:

• a natural person who has attained the age of 18 years; or
• by a body corporate

There is no provision for registration of a partnership . A registered finance broker must not carry on a business of finance broking in partnership with a person who is not registered as a finance broker. This means that all partners to a partnership would need to be registered as natural persons (individuals).

There are a number of forms you must complete and lodge with the Office of Regulatory Services, Business and Industry Licensing Unit:

For an applicant who is an individual (or sole trader)

• Application form front page – Form 01
• Application for registration, tick box – Form 03
• Personal particulars form and instructions – Form 04 & Infotext G 01
• Statutory declaration for a licence form – Form 09
• Consent to obtain personal information from police records (lodge with the AFP) and information – Form 10 & Infotext G 02
• Premises particulars form (place of business and trading or business names) – Form 24

Downloads

Registration as a Finance Broker Application Package - includes (all of the above forms plus instructions)

 

For an applicant that is a corporation

• Application form front page – Form 01
• Application for registration (tick box) - Form 03
• Organisation particulars form – Form 05
• Personal particulars form (for each executive officer) and instructions – Form 06 & Infotext G 01
• Statutory declaration for a licence form (for each executive officer) – Form 09
• National Police Checks from the Australian Federal Police (for each executive officer and for the company)
• Premises particulars form (place of business and trading or business names) – Form 24

Downloads

Registration as a Finance Broker Application Package - includes all of the above forms plus instructions
Additional Personal particulars form (for each executive officer) and instructions – Form 06 & Infotext G 01
Additional Statutory declaration for a licence form (for each executive officer) – Form_09

 

You must provide two (2) forms of personal ID for each individual, or each executive officer if the applicant is an organisation (company) – see Infotext G 01. We must see the original documents. We will copy these and retain only the copies. If you are interstate and unable to attend at our office a copy of the documents is acceptable, provider it is certified as a true copy by a Justice of the Peace for your state or territory. We also require a company extract from the Australian Securities Investment Commission and evidence of the registration of all business names used.

Each individual, or executive officer, must lodge a National Police Check. Corporations must also lodge a National Police Check.  You must apply for and obtain National Police Checks from the Australian Federal Police.

It may take several weeks for you to obtain this report from the AFP.

Mutual recognition does not apply at the present time since other states and territories do not have similar registration or licensing requirements.

You must pay for the police records checks at the time of lodging your police check application forms with the Australian Federal Police. When we have received the police checks from you we will decide on your eligibility to be issued with a certificate of registration. In certain circumstances the rule of “spent convictions” will apply and we will be required to disregard some convictions.

All registrations for finance brokers expire on an annual common expiry date of 27 March. There is an annual fee that can be apportioned on a pro-rata basis for the number of months or part thereof from date of application until 27 March next following application. The relevant fee must be paid at the time of lodging an application with us. Ask us about the relevant fees.

We only accept payment by cheque, money order or cash. Cheques and money orders should be made payable to “ACT Government”.

Please note that there is a fee for your initial place of business and a lesser fee for each additional place of business in the ACT. If you do not have a place of business in the ACT - but carry on business of finance broking in the ACT - you must pay the initial place of business fee for your place of business in your own state or territory. This would usually be your registered office.