Western Australian Consolidated Acts Western Australian Consolidated Acts (1A) On and after the
referral day, subsections (2) and (3) have no effect.
(1) In this
section —
unlicensed finance broker means a person or firm
that is required by section 26(1) to, but does not, hold a licence for
the type of finance broking concerned.
(2) A licensee must
not enter into an agreement for any finance broking to be carried out by a
person or firm that is an unlicensed finance broker.
Penalty: $50 000.
(3) A licensee must
not do any act which assists, or is intended to assist, a person or firm that
is an unlicensed finance broker to carry on a business that consists of or
includes the carrying out of any finance broking that requires a licence.
Penalty: $50 000.
[Section 40A inserted by No. 53 of 2004
s. 34; amended by No. 14 of 2010 s. 52.]