Commonwealth Consolidated Acts

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NATIONAL CONSUMER CREDIT PROTECTION ACT 2009 - SECT 158NB

Licensee must not accept conflicted remuneration

    A licensee must not accept conflicted remuneration in circumstances prescribed by the regulations if:

  (a)   the licensee is a mortgage broker; or

  (b)   the licensee is a mortgage intermediary.

Civil penalty:   5,000 penalty units.


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