Victorian Numbered Acts Victorian Numbered ActsAfter section 27 of the Consumer Credit (Victoria) Act 1995 insert —
(1) A person's registration under this Part is automatically cancelled—
(a) if the person becomes a represented person within the meaning of the Guardianship and Administration Act 1986 ; or
(b) if the person is a body corporate, if a director of the body corporate becomes a represented person within the meaning of the Guardianship and Administration Act 1986 ; or
(c) if the person becomes an insolvent under administration or an externally-administered body corporate.
(2) A person's registration under this Part is automatically cancelled 30 days after—
(a) subject to subsection (3), the person or an associate of the person, or if the person is a body corporate, an associate of a director of the body corporate, is convicted or found guilty of a disqualifying offence; or
(b) subject to subsection (3), the person or an associate of the person, or if the person is a body corporate, an associate of a director of the body corporate, carries on a relevant business, or holds a relevant licence or registration and—
(i) the relevant licence or registration is suspended or cancelled; or
(ii) the person or associate is disqualified from carrying on the business; or
(c) an associate of the person or, if the person is a body corporate, an associate of a director of the body corporate becomes an insolvent under administration or an externally administered body corporate; or
(d) the person is notified in writing by the Authority that an associate of the person or, if the person is a body corporate, an associate of a director of the body corporate would, if the associate or director were to apply for registration under this Part, be ineligible to be so registered.
(3) If the person is a body corporate, the person's registration under this Part is automatically cancelled if—
(a) a director is convicted or found guilty of a disqualifying offence; or
(b) a director has a relevant licence or registration suspended or cancelled—
and the director is still a director of the body corporate 30 days after the conviction, finding of guilt, suspension or cancellation.
(4) For the purposes of subsections (2)(a) and (3)(a), a conviction or finding of guilt is to be taken to take effect at the conclusion of the proceedings, whether on appeal or otherwise, or at the end of any appeal period, whichever is the later.
(5) If a person whose registration would otherwise be cancelled under subsection (2) or (3) applies for permission under section 27B within the 30 day period referred to in subsection (2) or (3), the person's registration is only automatically cancelled if the application is withdrawn or refused by the Authority.
(1) A person who would be otherwise ineligible to be registered because of sections 12B(c) to 12B(e) may apply to the Authority for permission to be registered.
(2) A person whose registration would otherwise be cancelled under section 27A(2) or 27A(3) may apply to the Authority for permission to continue to be registered.
(3) An application for permission must be—
(a) in a form approved by the Authority; and
(b) accompanied by the prescribed fee (if any).
(4) The Authority may give its permission if it is satisfied that it is not contrary to the public interest to do so.
(5) In considering an application under this section, the Authority may—
(a) conduct any inquiries into matters relevant to registration that the Authority thinks fit; and
(b) require the applicant to provide any further information relating to matters relevant to registration that the Authority thinks fit, in the manner required by the Authority; and
(c) seek advice and information on the application from any other person or body that the Authority thinks fit.
(6) The Authority may refuse to give permission if the applicant does not provide the further information required within 14 days of the requirement being made.
(7) The Authority is not required to conduct an oral hearing to determine whether or not to give permission.
(1) In giving permission under section 27B, the Authority may impose any conditions it considers appropriate to ensure the ongoing protection of the public interest.
(2) The Authority may at any time impose conditions in respect of the permission or vary or revoke any conditions previously imposed.
(3) A person to whom permission has been given must comply with any conditions imposed in respect of the permission.
Penalty: 100 penalty units." .