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Consumer Credit Act - does your business need
a credit licence?
It's not just businesses offering credit who must have
a consumer credit licence. You may also need one if
you have any connection with transactions where customers
are given time to pay.
If you make transactions for which a licence is required
without holding one, you are committing a criminal offence.
In addition, you will not be able to enforce an agreement
with a customer who defaults. However, a customer will
still be able to enforce an unlicensed agreement against
you.
For more information visit the
Office of Fair Trading website.
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