This section will provide you with guidance on the completion of your Annual Compliance Certificate which in effect is the renewal of your Australian Credit Licence.
Annual Compliance Certificate
When completing your Annual Compliance Certificate with ASIC it is important to ensure this is done correctly. By reading and following the simple steps outlined by ASIC you will ensure you lodge your certificate correctly. The anniversary date of your Australian Credit License is the date on which it was issued. You then have 45 days after this date to lodge your certificate. If any of your information is to be changed then this must occur prior to lodging the certificate. It is 20% cheaper for you to lodge your certificate online.
Information you must provide in the certificate;
update details about your business activities, credit or credit intermediary activities and representatives for the previous 12 months
if you provide credit services – provide information about the money you have held in trust during your past financial year
provide information about your dispute resolution and compensation activity – the number of accounts you held, the number of complaints you received and the number of voluntary, proactive compensation programs you ran
calculate your annual compliance certificate fee
certify that you are complying with your credit licence obligations
certify matters and notify changes about all your fit and proper people, both current and those that have ceased to perform that role in the past 12 months – or provide details of any exceptions
complete a statement of personal information for all new fit and proper people, and
notify changes about your responsible managers.
If you lodge your certificate late then late fees may apply.
ASIC guidance in relation to the Annual Compliance Certificate can be found here.
For any further compliance assistance please contact our Compliance Team at [email protected]