Commonwealth Consolidated Regulations

NATIONAL CONSUMER CREDIT PROTECTION REGULATIONS 2010 - REG 11

  (1)   For paragraph   47(1)(m) of the Act, a foreign entity that:

  (a)   is not a foreign company; and

  (b)   is a licensee;

must meet the requirements in subregulation   (2).

  (2)   The foreign entity must:

  (a)   at all times, have an agent who is:

  (i)   an individual or a company; and

  (ii)   resident in this jurisdiction; and

  (iii)   authorised to accept, on the foreign entity's behalf, service of process and notices; and

  (b)   notify ASIC of any change to:

  (i)   the agent; or

  (ii)   the name or address of the agent;

    not later than 1 month after the change; and

  (c)   make arrangements that ensure that ASIC may treat a document as being served on the foreign entity by leaving it at, or by sending it by post to:

  (i)   an address of the agent that has been notified to ASIC; or

  (ii)   if a notice or notices of a change or alteration to that address has or have been given to ASIC--the address shown in the most recent notice.