Document ID: chunk:federal_register_of_legislation:C2024C00826:section:30
Version: federal_register_of_legislation:C2024C00826
Segment Type: section
Provision Reference: s 30
Character Range: 106992–108181

30  Prohibitions on holding out and advertising etc.

Prohibitions on holding out and advertising etc.
 (1) A person must not hold out:
 (a) that the person holds a licence; or
 (b) that the person holds a licence authorising the person to engage in a particular credit activity; or
 (c) that a credit activity engaged in by the person or by someone else is exempt from a requirement to hold a licence; or
 (d) that, in engaging in a credit activity, the person acts on behalf of another person; or
 (e) that conduct, or proposed conduct, of the person is within the authority of a licensee;
if that is not the case.
Civil penalty: 5,000 penalty units.
 (2) A person must not hold out or advertise that the person engages or is able to engage in a credit activity if the person would, if the person engaged in the credit activity, contravene section 29 (which deals with the requirement to be licensed).
Civil penalty: 5,000 penalty units.

Offence
 (3) A person commits an offence if:
 (a) the person is subject to a requirement under subsection (1) or (2); and
 (b) the person engages in conduct; and
 (c) the conduct contravenes the requirement.
Criminal penalty: 1 year imprisonment.