Free tool
AFSL or Australian Credit Licence checker
Do you need an AFSL, an Australian Credit Licence, both, or might you be exempt? Select your financial-service and credit activities and this scoper maps them to the Corporations Act 2001 and the National Consumer Credit Protection Act 2009. Indicative only — not legal advice.
Likely need an AFSL
Based on your selections you likely need an AFSL.
Why — per selection
- Providing financial product advice (personal or general) is a "financial service" under the Corporations Act 2001 (s 766A) — carrying on that business in Australia generally requires an AFSL.
Exemptions & caveats
- Becoming an authorised representative / credit representative of an existing licensee lets you operate under their licence — no own licence needed, but only for the activities they authorise.
- Wholesale-only clients attract different (lighter) conduct obligations, but an AFSL is generally still required to provide financial services to them.
- Credit provided wholly or predominantly for business or investment purposes (other than residential-property investment) is outside the National Credit Code, so it does not require an ACL.
- Specific product and conduct exemptions, plus transitional or class-order relief, may apply — confirm the current position with ASIC or a financial services lawyer before relying on any exemption.
Recommended action
- Map each financial service + financial product to the authorisations you'll request on the AFSL.
- Line up responsible managers, PI insurance and dispute-resolution (AFCA) membership.
- Apply via ASIC Connect before providing the service.
Sources
Indicative scoping only — not legal advice. Licensing turns on your precise facts; confirm with ASIC or a financial services lawyer before operating.
Reference tool — not legal advice. Results are general information based on published Australian regulatory sources. Industry-specific or sector-licensed obligations may apply on top of what this tool returns. Always verify with the primary source linked in your result, or a qualified professional, before acting.
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Frequently asked questions
- What's the difference between an AFSL and an ACL?
- An Australian Financial Services Licence (AFSL) is required under the Corporations Act 2001 to carry on a business of providing financial services — advice, dealing, market-making, operating a managed investment scheme, custodial services, crowd-funding or insurance claims-handling — over financial products. An Australian Credit Licence (ACL) is required under the National Consumer Credit Protection Act 2009 to engage in credit activities for consumer credit, such as being a credit provider, a consumer lessor, or a finance/mortgage broker. Many businesses need both.
- Do I need a licence if I act as an authorised representative?
- Generally no. If an existing AFS or credit licensee formally appoints you as their authorised representative (or credit representative), you operate under their licence for the activities they authorise — you don't need your own. The licensee remains responsible for you, so the appointment and the scope of authorised activities must be documented.
- Does an ACL apply to business or commercial loans?
- No. The National Credit Code — and therefore the ACL regime — only covers credit provided wholly or predominantly for personal, domestic or household purposes, or to buy or improve residential property. Credit provided wholly or predominantly for business or investment purposes (other than residential-property investment) is outside the Code and does not require an ACL.
- Is this tool legal advice?
- No. This is an indicative scoping tool that maps common activities to the AFSL and ACL regimes. Licensing turns on the precise facts, your products and your client base, and exemptions or transitional relief can change the answer. Confirm your position with ASIC or a financial services lawyer before you start operating.
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