A business that engages in credit activities in Australia, such as providing consumer credit or acting as a broker, generally needs an Australian credit licence (ACL), or needs to act as a credit representative of someone who holds one. If you deal with a lender, aggregator or broker, the licence behind them is part of what you are relying on.
This guide covers where to check a credit licence, what the register shows, how credit representatives fit in, and what to do when something changes. It is general information, not legal advice.
Where to check
ASIC publishes the credit licensee and credit representative registers through its online registers search. The same data is published as files on data.gov.au, refreshed about weekly.
Search by the licence number if you have it. Names can be similar across unrelated businesses, so confirm the match using the ABN or ACN.
What a credit licence entry shows
An entry typically shows the credit licence number, the licensee's name, its ABN or ACN, the date the licence started, a status, and any related AFS licence number. It also lists what the licence authorises, and the external dispute resolution scheme the licensee belongs to.
The status is the quick answer to "can I rely on this licence today". On the register it appears as approved or suspended. A suspension means the licence is not currently in full effect. It can follow action by ASIC or a request from the licensee, so find out why before carrying on.
Credit representatives
A credit representative acts on behalf of a credit licensee, under that licensee's licence. The register lists each representative's number, the licensee that appointed them, the start date and an end date if the appointment has ended.
- The authority comes from the appointing licensee, so check both the appointment and the licensee.
- Many credit representatives are individuals. ASIC records an ABN or ACN for only some of them, so a check by ABN or ACN will not find every representative.
- An appointment can end while the representative keeps trading under the old arrangement.
How to run the check
- Get the licence number, or the ABN or ACN, from the entity.
- Find the entry on the register and confirm the ABN or ACN matches the entity you are dealing with.
- Read the status and the authorisations, and confirm they cover what you are relying on.
- For a representative, find the appointment, confirm it is current and note the appointing licensee.
- Record what you checked, the date and a reference to the register entry.
When a status changes
A move from approved to suspended, or an appointment ending, is a prompt to act:
- Open the entry and read the status and its date.
- Work out which of your relationships rely on that licence or appointment.
- Check ASIC's own information on the suspension rather than assuming the cause.
- Decide what to pause or change, and record who made the decision and when.
- Watch for a reinstatement, so a paused relationship is not left paused by accident.
An entity that is no longer listed has left the register. That can mean the licence was cancelled or surrendered, but a missing entry on its own does not tell you why.
The register shows what is listed. It does not tell you about complaints, conduct or enforcement action.
A short checklist
- Confirm the ABN or ACN on the register entry, not just the name.
- Read the status and the authorisations.
- For a representative, check the appointment and the appointing licensee.
- Date and record every check.
- Re-check on a schedule, and when a deal is about to complete.
- Investigate any suspension, ended appointment or missing entry promptly.
For related checks, see how to check an AFSL and an authorised representative, how to check an ABN and how to monitor a company for changes.
How MonitorHQ helps
MonitorHQ checks ASIC's credit licensee and credit representative registers for each monitored entity's ABN or ACN, and alerts you quickly to a licence being added, suspended, reinstated or ending, and an appointment starting or ending. The registers are published as files refreshed about weekly, so an alert can lag a change by days. An entry recorded without an ABN or ACN, or under a different entity, will not be matched, so treat it as a second check next to your own process. See credit licence monitoring, or the mortgage brokers page for how practices use it.