Providing credit

Regulation, licensing and responsibilities of businesses providing credit

National credit reform
Credit providers
Information about the legal regulation of credit providers
Consumer Credit Code

National credit reform

Responsibility for the regulation of consumer credit (including licensing or regulation of credit providers) is being transferred to the Commonwealth. It is currently proposed that this transfer will take place on 1 July 2010. The National credit reform page contains further information. This site will be updated as new information becomes available.

Credit Providers Regulation

Businesses providing domestic or household credit to consumers, and "linked suppliers" referring consumers to specific providers or acting as credit intermediaries, must abide by and provide their customers with information specified in the Australia-wide, uniform Consumer Credit Code, implemented in WA as the Consumer Credit (Western Australia) Code. Additionally, many credit providers are required to be licensed under, and accord with the reporting and conduct provisions of, the Credit (Administration) Act 1984.

Failure to operate in accordance with these laws can result in consequences including credit arrangements being overturned, and substantial fines, compensation payments or even criminal penalties being imposed.

Information about the legal regulation of credit providers

This section provides information about the how the Code might affect your business, including details of licensing, reporting and other responsibilities under the Code and the Act.

Please note Commerce is not able to provide advice to credit providers on how to conduct their businesses to ensure compliance with the Code. You will need to seek advice appropriate to your business from a suitable professional or industry body.

The site also includes information about debt collection, finance broking and pawnbroking.

Consumer Credit Code

See how the uniform Consumer Credit Code affects your business.