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This topic contains 1 reply, has 2 voices, and was last updated by  Mark Harbert 7 years, 11 months ago.

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    in the process of setting up a company specialising in short term Loans $100 – $800, My Business partner and I are seeking a responsible manager with a ACL and we are to act as an authorised representative. At this present moment we do not have the relevant industry experience that ASIC requires as per RG206 to apply for a ACL.   In the near future (2 years) we will become a RM and obtain a ACL.If anyone could guide me into the right direction of becoming a authorized representative under someone else’s License would be greatly appreciated. Please contact me for a confidential conversation, full summary, business plan, scop of the business etc.. will be provided if anyone is willing to embark on this journey with us. 

    #3254 Reply

    Mark Harbert
    Member

    The requirement to become an authorised representative for an existing ACL holder will depend on the business model that you chose to implement.  If your loans are short term and for small amounts you may qualify for an exemption to the National Credit Code (NCC).

    If you do require an ACL holder to appoint you as an authorised representative then you will need to research ACL holders that you feel will entertain your business model and attempt to enter into commercial discussions with them.  We do not have a specific registry of ACL holders that can assist you.  You can access a list of ACL holders from the ASIC website and attempt to make contact with them.

    Feel free to contact us if you require further information.

    Author: David Court

    Co-contributor: Mark Harbert

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