Credit licensees are required to lodge with ASIC a compliance certificate (and pay the required fee) no later than 45 days after the licensee’s licensing anniversary in each year: section 53 National Credit Act.
ASIC has issued Information Sheet IS 135 Annual Compliance Certificates for Credit Licensees, a list of questions asked and information required and Information Sheet IS 138 Credit Annual Compliance Certificate: Statement of Personal Information Template.
The questions include: As at the annual compliance date, did the licensee have adequate arrangements and systems in place to ensure that it complied with the conditions of its licence?
The certificate concludes with a declaration that “to the best of its knowledge, the information supplied in this certificate is complete and accurate (it is an offence to provide false or misleading information to ASIC)”.
ASIC prefers that the certificate be completed online at the Australian Credit Register Portal where the annual compliance certificate becomes available on the licensee’s annual compliance date.
Bright Law can assist with advice on your compliance obligations and systems and review your compliance implementation.