NATIONAL CONSUMER CREDIT PROTECTION ACT 2009 - SECT 66 Credit representative of 2 or more licensees

NATIONAL CONSUMER CREDIT PROTECTION ACT 2009 - SECT 66

  (1)   One person can be the credit representative of 2 or more licensees, but only if:

  (a)   each of those licensees has consented to the person also being the credit representative of each of the other licensees; or

  (b)   each of the licensees is a related body corporate of each of the other licensees.

  (2)   An authorisation:

  (a)   is of no effect if it contravenes subsection   (1) when it is given; and

  (b)   ceases to have effect if and when it starts to contravene subsection   (1) after it is given.