Western Australian Consolidated Acts

FINANCE BROKERS CONTROL ACT 1975 - SECT 4

4 .         Interpretation

                In this Act unless the context otherwise requires — 

        appointed day means the day fixed by the Minister pursuant to section 26(2) ² ;

        approved means approved by the Commissioner;

                ASIC means the Australian Securities and Investments Commission;

        auditor means a person appointed under this Act to audit the trust accounts of a finance broker;

        bank means —

            (a)         an ADI (authorised deposit-taking institution) as defined in section 5 of the Banking Act 1959 of the Commonwealth; or

            (b)         a bank constituted by a law of a State, a Territory or the Commonwealth;

        business means the business of a finance broker;

        Commissioner means the person for the time being designated as the Commissioner under section 6;

        condition , in relation to a licence or exemption, includes restriction or limitation;

        department means the department of the Public Service principally assisting the Minister in the administration of this Act;

        finance broker means a person who —

            (a)         as an intermediary, in the course of business negotiates or arranges loans of money for or on behalf of other persons; or

            (b)         in the course of business, manages loans of money arranged or negotiated by the person for or on behalf of other persons,

        but does not include the exceptions specified in section 5(1);

        finance brokers code of conduct means the code prescribed under section 81;

        investigator means a person designated under section 15 as an investigator and a member of the Police Force undertaking an investigation or inquiry or report under section 14;

        licence means the licence of a finance broker under this Act;

        licensed means licensed as a finance broker under this Act;

        licensee means a person licensed under this Act;

        motor vehicle has the meaning given in section 5(1) of the Road Traffic Act 1974 ;

                referral day means the day on which the Credit (Commonwealth Powers) Act 2010 section 5 comes into operation;