Victorian Consolidated Legislation

Consumer Credit (Victoria) Act 1995 - SECT 30

Inquiry by Tribunal

30. Inquiry by Tribunal



(1) The Tribunal must conduct an inquiry on the application of the Director or
the Chief Commissioner of Police under section 28.

(2) The Tribunal may conduct an inquiry on the application of any other person
under section 28, if after giving the applicant and the credit provider an
opportunity to be heard, it determines that the inquiry should be conducted.





(3) The Tribunal may make an order under subsection (4) if, after conducting
an inquiry, the Tribunal is satisfied that the credit provider-

   (a)  provided false or misleading information to the Authority or the
        Registrar in or in connection with-

   (i)  an application for registration under the
        Credit (Administration) Act 1984 or this Act; or

   (ii) a statement under section 24 of this Act; or

   (b)  has failed to comply with the Credit Act 1984, the
        Credit (Administration) Act 1984, this Act or the Consumer Credit
        (Victoria) Code; or

   (c)  has not been carrying on business efficiently, honestly and fairly,
        whether before or after the commencement of this section; or

   (d)  has failed to comply with a registered undertaking under the
        Credit (Administration) Act 1984 or an undertaking given by a credit
        provider under section 26 of this Act; or

   (e)  has failed to comply with a condition of registration imposed under
        the Credit (Administration) Act 1984 or this Part; or

   (f)  has been providing credit while the credit provider's registration was
        suspended under the Credit (Administration) Act 1984 or this Part; or

   (g)  has become an insolvent under administration; or

   (h)  has become an externally-administered body corporate; or

        (i)    has become prohibited from managing a corporation under section
               206B of the Corporations Act; or



   (j)  has become a represented person within the meaning of the
        Guardianship and Administration Act 1986.

(4) For the purposes of subsection (3), the Tribunal may, by order, do one or
more of the following-

   (a)  reprimand the credit provider;

   (b)  order the credit provider to pay to the Consumer Credit Fund
        established under the Credit (Administration) Act 1984 a penalty of up
        to an amount that is 50 times the value of a penalty unit fixed by the
        Treasurer under section 5(3) of the Monetary Units Act 2004;

   (c)  impose a condition or restriction on the registration;

   (d)  require the credit provider to comply within, or for, a specified
        time, with a specified condition imposed by the Tribunal;

   (e)  subject to subsection (5), suspend the registration for a specified
        period not exceeding 1 year;

   (f)  subject to subsection (5), cancel the registration and disqualify the
        credit provider from holding registration either permanently or for a
        specified period;

   (g)  require the credit provider to enter into an undertaking to perform,
        or not to perform, certain tasks to be specified in the undertaking.

(5) If the registered credit provider is registered, licensed or otherwise
authorised to operate under the Financial Institutions (Victoria) Code or any
other prescribed law providing for the prudential supervision of the credit
provider, the Tribunal must, before holding an inquiry, consult with and send
a copy of the application under section 28 to the body responsible under that
Code or law for the registration, licensing or authorisation of the credit
provider.

(6) If the Registrar is given notice that the Tribunal has imposed a condition
on a credit provider or cancelled or suspended the registration of a credit
provider, he or she must cause details of the condition, suspension or
cancellation to be entered in the Register.

(7) If the Tribunal imposes a condition on a credit provider, the Authority
may require the credit provider to produce the certificate of registration for
endorsement of the condition.

(8) A credit provider must comply with a requirement under subsection (7).

Penalty: 10 penalty units.