NATIONAL CONSUMER CREDIT PROTECTION ACT 2009 - SECT 158LB Conflict between consumer's interests and those of the licensee etc.
NATIONAL CONSUMER CREDIT PROTECTION ACT 2009 - SECT 158LB
Conflict between consumer's interests and those of the licensee etc.If the licensee knows, or reasonably ought to know, that there is a conflict between the interests of the consumer and the interests of:
(a) the licensee; or
(b) an associate of the licensee; or
(c) a representative of the licensee; or
(d) an associate of a representative of the licensee;
the licensee must give priority to the consumer's interests when providing the credit assistance.
Civil penalty: 5,000 penalty units.