These offences relate to your appointment to act on behalf of clients.
| Offence | Maximum penalty |
|---|---|
Failing to be appointed in writing to act as an agent | $32,260 |
Failing to give a copy of the appointment to the client | $32,260 |
Debt collecting and process serving breaches and penalties
On this page you’ll find information about the penalties for debt-collecting and process-serving offences. These fines are for individuals—corporations could face up to 5 times the maximum penalty.
|
These offences relate to your audit reports.
| Offence | Maximum penalty |
|---|---|
Failing to appoint an auditor | $32,260 |
Failing to lodge an audit report within the time limit | $32,260 |
Failing to lodge an audit report within 2 months of ceasing to be a principal licensee | $32,260 |
Auditor does not immediately file advice of irregularities to the Chief Executive, Office of Fair Trading (OFT) | $32,260 |
Auditor fails to notify the Chief Executive, OFT, when denied access to other records | $32,260 |
Auditor fails to supply a report to the licensee | $32,260 |
Inspectors have the legal authority to make sure you don't break the law—you must follow their lawful directions or risk a fine.
These offences relate to non-compliance with inspectors.
| Offence | Maximum penalty |
|---|---|
Obstructing an inspector or failing to produce documents or provide information to an inspector | $32,260 or 1 year imprisonment |
Failing to give your name and address to an inspector | $8,065 |
These offences relate to your licence or registration.
Change of details
| Offence | Maximum penalty |
|---|---|
Failing to advise the Office of Fair Trading in writing within 14 days about changes to any aspect of your licence or registration, including your personal details | $16,130 |
Producing a licence or registration on request
| Offence | Maximum penalty |
|---|---|
Not showing your licence or registration (or a copy of a staff member's licence or registration) to an inspector on their request | $32,260 |
Not showing your licence or registration (or a copy of a staff member's licence or registration) to a client, debtor or other party (except an inspector) on their request | $32,260 |
Substitute licensees and subagents
Read about the rules you must follow when appointing a substitute licensee to avoid being fined.
| Offence | Maximum penalty |
|---|---|
Not having the consent and evidence of appointment at the office | $16,130 |
Not lodging an extension of appointment for more than 30 days | $32,260 |
Acting as licensee while a substitute is appointed | $32,260 |
Employing an executive officer of the corporation to act as a subagent | $32,260 (individual) $161,300 (corporation) |
These offences relate to your place of business.
| Offence | Maximum penalty |
|---|---|
Not having a licensee in charge of your place of business | $32,260 (individual) $161,300 (corporation) |
Failing to advise the Office of Fair Trading within 14 days if you've changed your principal place of business, or opened or closed a place of business | $32,260 |
This penalty is for serious offences.
| Offence | Maximum penalty |
|---|---|
Failing to return your licence or registration to the Office of Fair Trading within 14 days after being convicted of a serious offence and having your licence or registration cancelled | $16,130 |
It is in an offence to steal or misuse trust monies—you risk a fine and imprisonment if you break the law.
These offences relate to managing trust accounts.
| Offence | Maximum penalty |
|---|---|
Wrongful conversion (or unauthorised use of money) and falsifying accounts | $161,300 |
Unauthorised use of a trust account | $32,260 |
Not banking trust monies immediately into a trust account | $32,260 |
Banking non-trust monies into a trust account | $32,260 |
Not providing a financial account to the client | $32,260 |
Unlicensed or unregistered work as a debt collector, repossessor or process server is against the law.
These penalties relate to unlicensed or unregistered work.
| Offence | Maximum penalty |
|---|---|
Working without a licence or registration | $32,260 or 2 years imprisonment |
| Employing an unlicensed or unregistered person | $32,260 |
Buying, selling, hiring out, borrowing or lending a licence or registration | $32,260 or 2 years imprisonment |
Enforceable undertakings
An enforceable undertaking is an alternative to court action. It is legally binding agreement between a business and the Office of Fair Trading that the business won’t keep breaking the law.