An Australian credit licence (ACL) authorises you and your representatives to engage in the credit activities that are specified on the licence. 

To be eligible to apply for an ACL, you will need to meet specific education and experience requirements set by ASIC to demonstrate you can comply with the organisation competence requirements to hold an ACL. 

If you cannot meet these requirements, it is unlikely that applying for your own licence will be something that you could consider in the first instance. However, this may be something that you wish to pursue in the future.  

General requirements

In addition to meeting the organisational competence requirements, you will also need to demonstrate that you can meet the ACL:

  • general conduct obligations
    • your broad compliance obligations
    • your internal systems
    • your people
    • your resources
  • dispute resolution requirements
  • compensation arrangements. 

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