Document ID: chunk:federal_register_of_legislation:C2012A00130:clause:1_160c
Version: federal_register_of_legislation:C2012A00130
Segment Type: clause
Provision Reference: sch 1 cl 160C
Character Range: 28199–29942

160C  "Financial counsellor" etc.
 (1) A licensee must not, in providing or offering to provide a credit service to a consumer, use any of the following terms (either alone or in combination with other words or letters) in a representation to the consumer about the licensee, the service or the licensee's actions in providing the service:
 (a) the phrase "financial counsellor";
 (b) the phrase "financial counselling";
 (c) another term (whether or not in English) that:
 (i) is of similar import to a phrase mentioned in paragraph (a) or (b); and
 (ii) is prescribed by the regulations.
Civil penalty: 2,000 penalty units.

Defences
 (2) For the purposes of subsection (1), it is a defence if regulations made for the purposes of paragraph 110(a) exempt the licensee from section 29 in relation to a credit activity because the licensee engages in the activity as part of a financial counselling service.
 (3) For the purposes of subsection (1), it is a defence if:
 (a) the licensee is providing, or offering to provide, the credit service on behalf of another person (the principal); and
 (b) the licensee is a representative of the principal; and
 (c) regulations made for the purposes of paragraph 110(a) exempt the principal from section 29 in relation to a credit activity because the principal engages in the activity as part of a financial counselling service; and
 (d) the licensee's actions in providing or offering to provide the credit service are within the authority of the principal.
 (4) For the purposes of subsection (1), it is a defence if the representation uses any of the terms in the negative (for example, a representation that the licensee is not a financial counsellor).

Division 3—Giving misleading information