Document ID: chunk:federal_register_of_legislation:C2023C00275:clause:2_33
Version: federal_register_of_legislation:C2023C00275
Segment Type: clause
Provision Reference: sch 2 cl 33
Character Range: 93230–94993

33  Application of Part 2‑3 of the National Credit Act

Application of Part 2‑3 of National Credit Act
(1) Part 2‑3 (which deals with credit representatives and other representatives of licensees) of the National Credit Act applies as if:
 (a) all references to a licensee were references to a registered person or licensee; and
 (b) all references to licensees were references to registered persons or licensees; and
 (c) all references to a licensee's licence were references to a registered person's registration or licensee's licence; and
 (d) the reference in subsection 67(1) of the National Credit Act to a person holding a licence authorising the person to engage in the credit activity were a reference to a person holding a licence authorising the person to engage in the credit activity, or being registered to engage in the credit activity.

Credit representatives of registered person taken to be credit representatives of licensee
(2) If:
 (a) a credit representative of a registered person has been authorised under subsection 64(1) or 65(1) of the National Credit Act (as those subsections apply because of subitem (1) or item 32A); and
 (b) the registered person is granted a licence under the National Credit Act; and
 (c) at the time the licence is granted, the authorisation of the credit representative is in force;
then the authorisation of the credit representative under subsection 64(1) or 65(1) of the National Credit Act (as those subsections apply because of subitem (1) or item 32A) is taken to have been an authorisation of the credit representative as a credit representative of the licensee under subsection 64(1) or 65(1) of the National Credit Act (as those subsections apply otherwise than because of subitem (1) or item 32A).