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Consumer Credit Law FAQs Q. Do I need a Credit Licence in Australia? Yes. Any person who engages in credit activity in Australia must have an Australian Credit Licence issued by ASIC. There are some exemptions but if ASIC considers that you have not properly qualified for the exemption they will prosecute you for unlicensed credit activity and there are large civil penalties. Q. What must you have to get an Australian Credit Licence? To get an Australian Credit Licence, you