57Varying licences

57 Varying licences Subdivision C—Miscellaneous rules about suspensions, cancellations and variations 58 Effect of suspension 59 Revocation of suspension 60 Date of effect, notice and publication of variation, cancellation or suspension etc. 61 Statement of reasons 62 ASIC may allow licence to continue in force Part 2‑3—Credit representatives and other representatives of licensees 63 Guide to this Part Division 2—Authorisation of credit representatives 64 Licensee may authorise credit representatives 65 Credit representative that is a body corporate may sub‑authorise natural persons as credit representatives 66 Credit representative of 2 or more licensees 67 A person cannot be a credit representative in relation to credit activities authorised by a person’s licence 68 Variation and revocation of authorisations and sub‑authorisations 69 Obligation not to give authorisation that has no effect 70 Obligation to vary or revoke authorisation that ceases to have effect 71 Obligation to notify ASIC etc. about credit representatives 72 Credit representative numbers Division 3—Information about representatives 73 ASIC may give licensee information about representatives Division 4—Liability of licensees for representatives 74 Application of this Division 75 Responsibility if representative of only one licensee 76 Representatives of multiple licensees 77 Responsibility extends to loss or damage suffered by client 78 Effect of this Division Part 2‑4—Banning or disqualification of persons from engaging in credit activities 79 Guide to this Part Division 2—Banning orders 80 ASIC’s power to make a banning order 81 What a banning order prohibits 82 Effect of banning orders 83 Variation or cancellation of banning orders 84 Date of effect, notice and publication of banning order, variation or cancellation 85 Statement of reasons Division 3—Disqualification by the court 86 Disqualification by the court Part 2‑5—Financial records, trust accounts and audit reports 87 Guide to this Part Division 2—Financial records of licensees 88 Obligation to keep financial records 89 How financial records are to be kept 90 Language of financial records 91 Location of financial records 92 Information to be shown in financial records 93 Regulations may impose additional requirements 94 Financial records taken to be made with licensee’s authority 95 Obligation to retain financial records for 7 years 96 Financial records are prima facie evidence of matters Division 3—Trust accounts of credit service licensees 97 Application of this Division 98 Obligation for credit service licensees to maintain trust account 99 Obligations in relation to trust account money 100 Obligation to lodge trust account statement and trust account audit report 101 Time of lodgment of trust account statement and trust account audit report Division 4—Matters relating to audit reports 102 Auditor’s right of access to records, information etc. 103 Auditor’s fees and expenses 104 Auditor to report on certain matters 105 Qualified privilege for auditor etc. 106 Regulations in relation to audit reports etc. Part 2‑6—Exemptions and modifications relating to this Chapter 107 Guide to this Part 108 Provisions to which this Part applies 109 Exemptions and modifications by ASIC 110 Exemptions and modifications by the regulations Chapter 3—Responsible lending conduct Part 3‑1—Licensees that provide credit assistance in relation to credit contracts 111 Guide to this Part 112 Application of this Part 113 Credit guide of credit assistance providers Division 3—Quote for providing credit assistance etc. in relation to credit contracts 114 Quote for providing credit assistance etc. Division 4—Obligations of credit assistance providers before providing credit assistance for credit contracts 115A Scope of this Division 115 Obligations of credit assistance providers before providing credit assistance for credit contracts 116 Preliminary assessment of unsuitability of the credit contract 117 Reasonable inquiries etc. about the consumer 118 When the credit contract must be assessed as unsuitable—entering contract or increasing the credit limit 119 When the credit contract must be assessed as unsuitable—remaining in credit contract 120 Providing the consumer with the preliminary assessment Division 5—Fees, indirect remuneration etc. relating to credit contracts 121 Fees, indirect remuneration etc. relating to credit contracts 122 No profiting from fees etc. paid to third parties Division 6—Prohibition on suggesting, or assisting with, unsuitable credit contracts 123 Prohibition on suggesting or assisting consumers to enter, or increase the credit limit under, unsuitable credit contracts 124 Prohibition on suggesting to consumers to remain in unsuitable credit contracts Division 7—Special rules for short‑term and small amount credit contracts 124A Prohibition on providing credit assistance in relation to short‑term credit contracts 124B Licensee who makes representations about credit assistance in relation to small amount credit contracts must display and give information