Document ID: chunk:federal_register_of_legislation:C2023C00239:clause:3_158k
Version: federal_register_of_legislation:C2023C00239
Segment Type: clause
Provision Reference: sch 3 cl 158K
Character Range: 13350–14139

158K  Guide to this Part

      This Part imposes obligations on mortgage brokers and mortgage intermediaries.
      Mortgage brokers must act in the best interests of consumers when providing credit assistance in relation to credit contracts.
      Where there is a conflict of interest, mortgage brokers must give priority to consumers in providing credit assistance in relation to credit contracts.
      Mortgage brokers and mortgage intermediaries must not accept conflicted remuneration.
      Employers, credit providers and mortgage intermediaries must not give conflicted remuneration to mortgage brokers or mortgage intermediaries.
      The circumstances in which these bans on conflicted remuneration apply are to be set out in the regulations.

Subdivision B—Interpretation