Victorian Consolidated Legislation

Consumer Credit (Victoria) Act 1995 - SECT 23

Annual fee

23. Annual fee



(1) A registered credit provider must, on each anniversary of the day on which
the credit provider was registered or is deemed to have been registered, pay
to the Authority the prescribed annual fee (if any) in respect of the year
commencing on that anniversary.

(1A) An annual fee may be paid at any time in the 6 weeks before it falls due.



(2) On the application of a registered credit provider, the Registrar may, in
his or her discretion, extend or further extend the time within which that
credit provider is required to pay a fee under subsection (1).

(3) If a registered credit provider has failed to pay a fee in accordance with
subsection (1) or (2), the Registrar must give notice in writing to the credit
provider to the effect that unless the credit provider pays the fee within 14
days, or such longer period as the Registrar determines, after the notice is
given, the registration will be cancelled.

(4) If the credit provider fails to pay a fee within the time specified in a
notice under subsection (3), the registration of the credit provider is
automatically cancelled.