Document ID: chunk:federal_register_of_legislation:C2023C00239:clause:3_158ne
Version: federal_register_of_legislation:C2023C00239
Segment Type: clause
Provision Reference: sch 3 cl 158NE
Character Range: 21256–21824

158NE  Credit provider must not give conflicted remuneration
 (1) A credit provider must not give a licensee conflicted remuneration in circumstances prescribed by the regulations if the licensee is:
 (a) a mortgage broker; or
 (b) a mortgage intermediary.
Civil penalty: 5,000 penalty units.
 (2) A credit provider must not give a representative of a licensee conflicted remuneration in circumstances prescribed by the regulations if the licensee or the representative is:
 (a) a mortgage broker; or
 (b) a mortgage intermediary.
Civil penalty: 5,000 penalty units.