Victorian Consolidated Legislation

Consumer Credit (Victoria) Act 1995 - SECT 37L

Finance brokers not to demand receive accept or charge fee to which they are not entitled

37L. Finance brokers not to demand receive accept or charge fee to which they
are not entitled

A finance broker must not demand, receive, accept or charge-

   (a)  any fee for negotiating consumer credit other than a fee to which they
        are entitled under this Part; or

   (b)  any deposit on account of a fee for negotiating consumer credit.

Penalty: In the case of a corporationž For a first offence, 30 penalty units;
For a subsequent offence, 60 penalty units. In any other case- For a first
offence, 30 penalty units or 3 months imprisonment; For a subsequent offence,
60 penalty units or 6 months imprisonment.