Applying for or Varying your Australian Credit Licence (ACL)

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We can help you get an Australian Credit Licence (ACL) licence.

Do you need an Australian Credit Licence?

If you engage in a credit activity, you need an Australian Credit Licence unless an exemption or defence applies.

Need help?   
  1. Ask our associated law practice for legal advice or assistance.
  2. Download our one-page diagram summarising the National Consumer Credit Protection Act 2009 (Cth) and Regulations.

 

Apply for an Australian Credit Licence (ACL)

Below is a diagram summary of ASIC's RG204: Applying for an ACL.  Click on the diagram to download it.  Also see our blog post summarising the application process.

Click to download summary of RG 204 - how to get a credit licence


We offer the following services to help you get your ACL*.

ACL Application Package 1 -
"The Project Managed Package"


We can help you apply for your ACL from start to finish.  This package includes:
1.  Preparation of the ACL application:
(a) completion of the online form;
(b) preparation of required proof documents (summary business description);
(c) an opinion of the suitability of Responsible Managers; 
(d) assistance in gathering documents to demonstrate the requirements for Responsible Managers and Fit and Proper People have been met; and

2.  Template compliance processes and procedures; and

3.  Liaising with ASIC during the post-submission assessment process.  The extent of ASIC's enquiries vary depending on the application; and

4.  Attendance by one Responsible Manager at Compact's introductory Responsible Manager training course.

Please contact our office for a quote.


ACL Application Package 2 -
"The Preparation Package"


This package has a touch of 'DIY'.  We complete the application documents for you and assist you up to the submission of your application.
Then we hand over the reins to you for all post submission liaisons with ASIC.

This package includes:

1.  Preparation of the application:
(a) completion of the online form;
(b) preparation of required proof documents (summary business description);
(c) an opinion of the suitability of Responsible Managers;
(d) assistance in gathering documents to demonstrate the requirements for Responsible Managers and Fit and Proper People have been met; and

2.  Template compliance processes and procedures; and

3.  Attendance by one Responsible Manager at Compact's introductory Responsible Manager training course.

Please contact our office for a quote.

*We do not offer these services to pay-day lending and consumer leasing businesses.

      

Free ACL updates

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What are your obligations once you get an ACL?

Once licensed, you must comply with the general conduct and responsible lending conduct obligations and more.   

See our Ongoing Compliance Support page for more information.

Click here to comment or ask a question about the new legislation. 

AC Licensing