Western Australian Current Acts
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FINANCE BROKERS CONTROL ACT 1975
TABLE OF PROVISIONS
Long Title
PART I -- Preliminary
1. Short title
2. Commencement
4. Terms used
5. Exceptions to finance broker
PART II -- The Commissioner
Division 1 -- General
6. Commissioner
7. General functions of Commissioner
8. Commissioner may delegate
9A. Arrangements with ASIC
9B. Information
9. Judicial notice
Division 2 -- Powers of investigation and inquiry
13. Investigation and inquiry by Commissioner
14. Police investigations
15. Investigators
16. Additional investigative powers
17. Compliance checks at licensee’s business premises
Division 2A -- Specific investigatory powers
18. Powers
18A. Warrant to enter premises
18B. Issue of warrant
18C. Execution of warrant
18D. Seizure
18E. Incriminating information, questions, or documents
18F. Failure to comply with investigation
18G. Obstruction of investigator
18H. Information
Division 3 -- Review of decisions of the Commissioner
23. Application for review
PART III -- Licensing
24. Application
25. Objections
26. Finance brokers to be licensed
27A. No further grants of licences
27. Grant of licence to natural person
28. Grant of licence to firm
29. Grant of licence to body corporate
30. Effect of licence
31. Duration of licence
32. Applications for renewals
33. Refusal to renew
34. Conditions on licences
34B. Suspension of licence by State Administrative Tribunal
35. Bond or guarantee in respect of licence
35A. Prescribed person exempt from bond requirements
40. Licence not transferable
40A. Prohibition against doing business with unlicensed finance brokers
41. Use of business name
42. Notice to be exhibited
PART IV -- Controls
Division 1 -- General
43. Disability of unlicensed person
44. Remuneration of finance brokers
45. Advertisements by licensees
46. Copy of loan documents
Division 2 -- Trust accounts
47. Terms used
48. Trust accounts
49. Receipts and accounting to principal
50. Duty of finance broker to have trust accounts audited
51. Variation of date of audit
52. Qualification and approval of auditors
53. Appointment of auditor
54. Power to give directions for audit of business carried on at more than one place
55. Alteration of rights under this Division
57. Duties of finance brokers with respect to audit
58. Duty of banker with respect to audit
59. Contents of auditor’s report
60. Statement of moneys etc. held by finance broker for or on behalf of other persons
61. Auditor’s report where finance broker has not complied with Act etc.
62. Non-disclosure by auditors
63. Right of persons beneficially interested to obtain information
64. Penalty for breach
65. Remuneration of auditor
66. Finance brokers having no accounts to audit
67. Accounts of firm or body corporate or finance broker with branch office
68. Power of Commissioner to order audit of trust account
69. Finance broker to produce books etc. to auditor
70. Cost of audit
71. Application of s.
72. Power of restraining dealing with trust accounts or other accounts
Division 3 -- Discipline
81. Code of conduct for finance brokers
82. Disciplinary proceedings against finance brokers
83. Powers on inquiry
PART V -- Miscellaneous
85. Certificates
87. Immunity of officers
88. Secrecy
89. Liability of directors of body corporate
90. Other rights or remedies
91. No waiver of rights
92. General penalty
92A. Infringement notices
93. Proceedings
94. Forms
95. Regulations
SCHEDULE
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