The Australian Securities & Investments Commission has cancelled the Australian credit licence (ACL) of NSW-based credit provider Auckland Finance Pty Ltd after determining it had not engaged in credit activities for some time. The cancellation took effect on 31 January 2025. ASIC acted under the National Consumer Credit Protection Act 2009, which allows it to suspend or cancel an ACL where a credit provider has ceased engaging in credit activities. Auckland Finance held ACL number 393572 since 31 March 2011 and was authorised to engage in credit activities as a credit provider. Auckland Finance may seek review of ASIC’s decision by appealing to the Administrative Review Tribunal.
Australian Securities & Investments Commission 2025-02-10
Australian Securities & Investments Commission cancels Auckland Finance’s Australian credit licence after inactivity
The Australian Securities & Investments Commission (ASIC) has cancelled the Australian credit licence of Auckland Finance Pty Ltd, a NSW-based credit provider, due to inactivity in credit activities. The cancellation, effective 31 January 2025, was executed under the National Consumer Credit Protection Act 2009. Auckland Finance, holding ACL number 393572 since 2011, may appeal the decision to the Administrative Review Tribunal.