Western Australian Consolidated Acts

FINANCE BROKERS CONTROL ACT 1975

TABLE OF PROVISIONS

           Long Title

   PART I -- Preliminary  

   1.      Short title  
   2.      Commencement  
   4.      Interpretation  
   5.      Exceptions to “finance broker”

   PART II -- The Commissioner

           Division 1 -- General  

   6.      Commissioner  
   7.      General functions of the Commissioner  
   8.      Commissioner may delegate  
   9A.     Arrangements with ASIC  
   9B.     Information  
   9.      Judicial notice

           Division 2 -- Powers of investigation and inquiry  

   13.     Investigation and inquiry by Commissioner  
   14.     Police investigations  
   15.     Investigators  
   16.     Additional investigative powers  
   17.     Compliance checks at licensee’s business premises

           Division 2A -- Specific investigatory powers  

   18.     Powers  
   18A.    Warrant to enter premises  
   18B.    Issue of warrant  
   18C.    Execution of warrant  
   18D.    Seizure  
   18E.    Incriminating information, questions, or documents  
   18F.    Failure to comply with investigation  
   18G.    Obstruction of investigator  
   18H.    Information

           Division 3 -- Review of decisions of the Commissioner  

   23.     Application for review

   PART III -- Licensing  

   24.     Application  
   25.     Objections  
   26.     Finance brokers to be licensed  
   27A.    No further grants of licences  
   27.     Grant of licence to a natural person  
   28.     Grant of licence to a firm  
   29.     Grant of licence to body corporate  
   30.     Effect of licence  
   31.     Duration of licence  
   32.     Applications for renewals  
   33.     Refusal to renew  
   34.     Conditions on licences  
   34B.    Suspension of licence by State Administrative Tribunal  
   35.     Bond in respect of licence  
   35A.    Prescribed person exempt from bond requirements  
   40.     Licence not transferable  
   40A.    Prohibition against doing business with unlicensed finance brokers  
   41.     Use of business name  
   42.     Notice to be exhibited

   PART IV -- Controls

           Division 1 -- General  

   43.     Disability of unlicensed person  
   44.     Remuneration of finance brokers  
   45.     Advertisements by licensees  
   46.     Copy of loan documents

           Division 2 -- Trust accounts  

   47.     Interpretation  
   48.     Trust accounts  
   49.     Receipts and accounting to principal  
   50.     Duty of finance broker to have trust accounts audited  
   51.     Variation of date of audit  
   52.     Qualification and approval of auditors  
   53.     Appointment of auditor  
   54.     Power to give directions for audit of business carried on at more than one place  
   55.     Alteration of rights under this Division  
   57.     Duties of finance brokers with respect to audit  
   58.     Duty of banker with respect to audit  
   59.     Contents of auditor’s report  
   60.     Statement of moneys, etc., held by finance broker for or on behalf of other persons  
   61.     Auditor’s report where finance broker has not complied with Act, etc.  
   62.     Non-disclosure by auditors  
   63.     Right of persons beneficially interested to obtain information  
   64.     Penalty for breach  
   65.     Remuneration of auditor  
   66.     Finance brokers having no accounts to audit  
   67.     Accounts of firm or body corporate or finance broker with branch office  
   68.     Power of Commissioner to order audit of trust account  
   69.     Finance broker to produce books, etc. to auditor  
   70.     Cost of audit  
   71.     Application of s. 62  
   72.     Power of restraining dealing with trust accounts or other accounts

           Division 3 -- Discipline  

   81.     Finance brokers code  
   82.     Disciplinary proceedings against finance brokers  
   83.     Powers on inquiry

   PART V -- Miscellaneous  

   85.     Lists and certificates  
   87.     Immunity of officers  
   88.     Secrecy  
   89.     Liability of directors of body corporate  
   90.     Other rights or remedies  
   91.     No waiver of rights  
   92.     General penalty  
   92A.    Infringement notices  
   93.     Proceedings  
   94.     Forms  
   95.     Regulations
           SCHEDULE
           Compilation table