The program meets all necessary Compliance and Legislative requirements under the “Mere Referrer Exception” clause of the NCCP Act 2009.
As a Referrer you must confirm that you are familiar with this exemption from requiring an Australian Credit Licence (set out in regulation 25(2) of the National Consumer Credit Protection Regulations 2010). A credit activity is exempted if:
(a) the activity consists only of:
- (i) a person ( person 1 ) informing another person ( person 2 ) that a licensee or registered person, or a representative of the licensee or registered person, is able to provide a particular credit activity or a class of credit activities; and
- (ii) person 1 giving person 2 information about how person 2 may contact the licensee, registered person or representative; and
(b) at the time the activity is engaged in, person 1 discloses to person 2:
- (i) any benefits, including commission, that person 1, or an associate of person 1, may receive in respect of the activity; and
- (ii) any benefits, including commission, that person 1, or an associate of person 1, may receive that are attributable to the activity; and
(c) the disclosure mentioned in paragraph (b) is provided in the same form as the information mentioned in paragraph (a).
As a Referrer you must acknowledge that you are not representing Capital Growth in its capacity as an Australian Credit Licensee.