ACL Compliance Manual


inc GST

An Australian Credit Licensee (ACL) is required by law to have various compliance measures, “and a written plan that documents those arrangements and systems” (s47(1)(k) of the National Consumer Credit Protection Act 2009).

The procedures included in our ACL Procedures Manual are aimed at addressing the obligations imposed on Australian Credit Licensees by:
  • The National Consumer Credit Protection Act 2009 (the NCCP Act);
  • The National Consumer Credit Protection Regulations 2010
  • ASIC Regulatory Guides and relevant Australian Standards; and 
  • Australian Credit Licence conditions.
Each of the procedures*, ** referred to below, once tailored to your business, would form part of a body of documentation for satisfying the obligation set out in s47(1)(k) of the NCCP Act.  See the example procedure.

ACL procedures - will they fit your business?

We understand the frustration and the inappropriateness associated with a "one size fits all" approach, and have designed the procedures in a way which allows the licensee control of the content.

The following chapters are included in the Australian Credit Licensee Procedures Manual:

  1. Compliance
  2. Conflicts of interest
  3. Dispute resolution
  4. Advertising and promotional material
  5. Maintaining adequate financial resources and compensation
  6. Human resources
  7. IT resources
  8. Outsourcing
  9. Appointing representatives
  10. Monitoring and supervising representatives
  11. Responsible lending
  12. Training
  13. Risk management
  14. Consumer statements
  15. Hardship

The manual also includes various Working Documents designed to assist the licensee with tailoring the procedures.  

Australian Credit Licensee Procedures Manual cost

The cost of the complete ACL Procedure Manual is $3,500 including GST.  

Is the manual exhaustive?

If the complete manual is purchased and then tailored to the licensee's business, there will be adequate documentation to confidently inform ASIC that you have an adequate written plan in place.  Compact has assisted a number of Australian Credit Licensees obtain their licence with these procedures in place.

There will be adequate documentation which, if used and tailored correctly, would support the ongoing legal responsibilities of an Australian Credit Licensee (however - the procedures would only support the legal responsibilities of the licensee if they were updated on a regular basis to reflect ongoing regulatory and business changes).

What's included?

Once payment is received, the manual is delivered via email as a downloadable file(s) in Word and Excel format, together with a tax invoice. 

*This procedure(s) will not comply with the regulatory requirements if it is not correctly tailored to your particular business and kept up-to-date.  Compact - Compliance & Training is not responsible for the tailoring and implementation or upkeep of each procedure once purchased by the licensee.  Compact - Compliance & Training can assist you tailor these documents.  The first step towards keeping your procedure(s) up-to-date is to subscribe to our tailored monthly regulatory update service, T-REX.  The content of each procedure will vary depending on legislative and policy changes and updates, as well as the nature of the licensee.  This procedure(s) is current on the date of purchase.  Whilst every care is taken in their preparation, Compact - Compliance & Training makes no representation that these documents are fit for your particular purpose, and accepts no responsibility for any loss or damage or cost incurred as a result of their use.  Compact - Compliance & Training takes no responsibility for formatting or other errors resulting from software errors, defects, incompatibility or viruses. **This procedure(s) is only organisational.  It does not address financial reporting and financial auditing requirements.

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