Commonwealth Consolidated Acts

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NATIONAL CONSUMER CREDIT PROTECTION ACT 2009 - SECT 158LB

Conflict between consumer's interests and those of the licensee etc.

    If the licensee knows, or reasonably ought to know, that there is a conflict between the interests of the consumer and the interests of:

  (a)   the licensee; or

  (b)   an associate of the licensee; or

  (c)   a representative of the licensee; or

  (d)   an associate of a representative of the licensee;

the licensee must give priority to the consumer's interests when providing the credit assistance.

Civil penalty:   5,000 penalty units.


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