To engage in credit activities, a business must have a credit licence or an authorisation from a credit licensee.

ASIC is the national regulator for consumer credit and consumer leases under the national credit legislation.  This legislation includes:

  • the National Credit Code (which is in Schedule 1 to the National Consumer Credit Protection Act 2009 (National Credit Act)) – which contains requirements in relation to the entry into, terms and enforcement of credit contracts and consumer leases
  • the National Credit Act – which contains requirements for persons who are involved in consumers obtaining credit contracts or consumer leases (including both the credit providers and lessors, and other persons such as finance brokers) to be licensed and to comply with responsible lending requirements.   

We have issued detailed guidance and general information to help you understand the credit licensing process and your obligations under the credit legislation.

However, you may also need to get professional advice on how the law applies to your situation.

Information for consumers and borrowers on using credit wisely and managing debt is available on our MoneySmart website at

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What's new

Lenders commit to improve credit card practices following ASIC review

ASIC has released Report 604  Credit card lending in Australia – an update, which sets out the changes being made by lenders to help consumers with credit card debt. 18-381MR. 18 December

ASIC puts spotlight on the rapidly growing buy now pay later industry

ASIC has released its first review of the rapidly growing buy now pay later industry. 18-357MR. 28 November

Firms must notify ASIC of their AFCA membership by end of November before late fees apply

Financial firms who are members of the Australian Financial Complaints Authority must notify ASIC of their AFCA membership by Friday 30 November 2018. 18-358MR. 28 November 

ASIC’s recent initiatives to strengthen underwriting standards

A speech by ASIC Commissioner, Cathie Armour. 27 November.

More credit releases

Last updated: 20/10/2014 12:00