Hi,
Anyone know what is required to be able to provide clients with non-bank credit?? Ie: a credit card?This may help and I am certain consumer affairs or office of fair trading in your state would be able to direct you to the correct requirements
Consumer credit (Victoria) act 1995 see section 11
http://www.legislation.vic.gov.au/Domino/Web_Notes/LDMS/PubLawToday.nsf/a12f6f60fbd56800ca256de500201e54/153EC4DCA39B6B53CA2572E900127899/$FILE/95-41a025.pdfI would assume each state would have a similar law act you would need to investigate
http://www.fairtrading.nsw.gov.au
http://www.fairtrading.qld.gov.au
http://www.consumer.tas.gov.au/
From http://www.ASIC.gov.au web site
Our jurisdiction applies whether the lender is a bank or any other finance provider, such as a finance company, a credit union, a retailer or a firm of solicitors. It is not necessary that the lender is a firm that is licensed by us. Our credit jurisdiction is however limited to activities that take place in the context of "trade or commerce". We do not regulate loans between friends or family members, or other non-commercial arrangements.
Some credit providers may however need to be registered or licensed under relevant State legislation.Who else regulates credit?
ASIC shares its new responsibility for credit regulation with the state and territory government's fair trading and business and consumer affairs agencies. These agencies have sole responsibility for the detailed regulation of consumer credit under the Uniform Consumer Credit Code [the UCCC].
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