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NATIONAL CONSUMER CREDIT PROTECTION ACT 2009 - SECT 160C

"Financial counsellor" etc.

  (1)   A licensee must not, in providing or offering to provide a credit service to a consumer, use any of the following terms (either alone or in combination with other words or letters) in a representation to the consumer about the licensee, the service or the licensee's actions in providing the service:

  (a)   the phrase "financial counsellor";

  (b)   the phrase "financial counselling";

  (c)   another term (whether or not in English) that:

  (i)   is of similar import to a phrase mentioned in paragraph   (a) or (b); and

  (ii)   is prescribed by the regulations.

Civil penalty:   5,000 penalty units.

Defences

  (2)   For the purposes of subsection   (1), it is a defence if regulations made for the purposes of paragraph   110(1)(a) exempt the licensee from section   29 in relation to a credit activity because the licensee engages in the activity as part of a financial counselling service.

  (3)   For the purposes of subsection   (1), it is a defence if:

  (a)   the licensee is providing, or offering to provide, the credit service on behalf of another person (the principal ); and

  (b)   the licensee is a representative of the principal; and

  (c)   regulations made for the purposes of paragraph   110(1)(a) exempt the principal from section   29 in relation to a credit activity because the principal engages in the activity as part of a financial counselling service; and

  (d)   the licensee's actions in providing or offering to provide the credit service are within the authority of the principal.

  (4)   For the purposes of subsection   (1), it is a defence if the representation uses any of the terms in the negative (for example, a representation that the licensee is not a financial counsellor).


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