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National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009
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National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009
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Turn the raw legal text into a practical explanation grounded in National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009.
35 Application of Divisions 2 and 4 of Part 2‑5 of the National Credit Act
(1) Division 2 of Part 2‑5 (which deals with financial records of licensees) of the National Credit Act applies as if all references to a licensee were references to a registered person or licensee.
(2) Division 4 of Part 2‑5 (which deals with matters relating to audit reports) of the National Credit Act applies as if:
(a) all references to a licensee were references to a registered person or a licensee; and
(b) the reference in paragraph 102(1)(a) of the National Credit Act to an audit report required under subsection 49(3) of the National Credit Act in relation to a licensee were a reference to an audit report required under subsection 49(3) of that Act in relation to a licensee, or an audit report required under subitem 17(3) of this Schedule in relation to a registered person; and
(c) the reference in paragraph 106(a) of the National Credit Act to audit reports referred to in subsection 102(1) of the National Credit Act included a reference to the audit reports required under subitem 17(3) of this Schedule.