Ready to register for credit?

30 March 2010

From 1 April 2010, those who engage in credit activities must register with ASIC. See our blog post dated 8 January 2010 and our mindmap summary of the registration process.
To register, complete the ASIC form: CS01 Application for registration to engage in credit activities.

Before youapply:

Make sure that: you are a member of an approved EDR scheme (FOS or Credit Ombudsmen Service; and
all of your details on the ASIC register are up to date.

Once registered, you must:

ensure that you engage in credit activities efficiently, honestly and fairly; and
comply with any conditions on the registration; and
take reasonable steps to ensure that your clients are not disadvantaged by any conflict of interest that arises wholly or partly in relation to credit activities engaged in by you or your representatives.

ASIC has released a form CS01 User Guide to assist with completion ofthe online registration form. Click here for CS01User Guide.

Tip: Get in early! ASIC will process registration applications in the order it receives them. ASIC has also said that if you do not lodge your application for registration by 18 June 2010, it is unlikely that your application will be processed by 30 June 2010.You will not be able to continue to engage in credit activities from 1 July 2010 if you are not registered with ASIC.