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Business & Industry LicensingCREDIT PROVIDERS AND FINANCE BROKERS
The Business and Industry Licensing Unit registers credit providers and finance brokers in the ACT.
General information
If you buy goods, services or land now, and pay a charge for them later, you are being provided with credit. Typical credit providers include:
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banks;
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credit unions;
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building societies;
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finance companies; and
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businesses.
A credit provider or finance broker is an agent who bring two parties together, enabling them to enter into a contract to which he is not a principal. His remuneration consists of a brokerage, which is usually calculated as a percentage of the sum involved in the contract but may be fixed according to a tariff. Brokers are used because they have specialized knowledge of certain markets or to conceal the identity of a principal, in addition to introducing buyers to sellers.
The Consumer Credit Code provides uniform regulation of most personal credit transactions in Australia including credit cards, personal loans and home loans.
Application forms and fees
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Apply for registration as a credit provider
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Apply for registration as a finance broker
(forms can be downloaded, collected from the Shopfront, Business and Industry Licensing Unit or posted to you. You should call 6207 0567 to request the forms)
When completed, forms should be delivered to the Shopfront or sent to the:
Office of Regulatory Services
GPO Box 158
CANBERRA CITY ACT 2601
Legislation
Contact
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Business and Industry Licensing Unit on 6207 0562
