NATIONAL CONSUMER CREDIT PROTECTION ACT 2009 - SECT 31 Prohibition on conducting business with unlicensed persons

NATIONAL CONSUMER CREDIT PROTECTION ACT 2009 - SECT 31

Prohibition on conducting business with unlicensed persons

  (1)   A licensee must not:

  (a)   engage in a credit activity; and

  (b)   in the course of engaging in that credit activity, conduct business with another person who is engaging in a credit activity;

if, by engaging in the credit activity, the other person contravenes section   29 (which deals with the requirement to be licensed).

Civil penalty:   5,000 penalty units.

Offence

  (2)   A person commits an offence if:

  (a)   the person is subject to a requirement under subsection   (1); and

  (b)   the person engages in conduct; and

  (c)   the conduct contravenes the requirement.

Criminal penalty:   2 years imprisonment.