ACL Resource Requirements

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A credit licensee must ensure they have adequate human, technological and financial resources to engage in the credit activities covered by the licence and to carry out supervisory arrangements on an ongoing basis.

Human resources

You should have enough staff to ensure you are able to:

  • comply with all your legal obligations
  • appropriately monitor and supervise your business; and
  • meet both your current and future operational needs.

Measures for ensuring you have enough people will include:

  • recruitment processes and succession planning
  • induction and training systems for new staff
  • performance management systems; and
  • processes for staff retrenchment and redundancy.

This should be reviewed regularly to identify key indicators that human resources may be inadequate such as a low ratio of compliance staff to representatives or customer complaints about the quality of customer service.

Technological resources

The credit business should have enough technological resources to enable you to:

  • comply with all your legal obligations
  • maintain client records and data integrity
  • protect all information; and
  • meet both current and future operational needs.

These systems also need to be reviewed regularly and factors that should be considered include system security, currency of software and hardware, disaster recovery systems.

Financial resources

ASIC do not set minimum financial resource requirements as part of the licence conditions, however you should have adequate financial resources to engage in the credit activities efficiently, honestly and fairly as authorised by your licence and carry our your supervisory arrangements. 

As a minimum ASIC expect that you:

  • can access sufficient financial resources to meet your debts as they fall due
  • plan and monitor your cash flow so that you meet your obligations as a licensee under the National Credit Act; and
  • keep written records of your financial resources to demonstrate they are being monitored on a regular basis.

Risk management systems should also address the possibility that your financial resources will not be adequate to ensure you can carry on the business in compliance with credit licensee obligations or wind up your business in an orderly manner. 

Delegating this responsibly to one senior person with appropriate knowledge and skills will help the business comply with the financial requirements.  ASIC refers to this person as the ‘financial manager’.

Key ASIC references:

Regulatory Guide 205: Credit licensing: General conduct obligations Section F
Regulatory Guide 207 Credit licensing: Financial requirements



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