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Lending money to friends or family? Register as a credit provider, or else!

It discourages a benevolent lender from advancing funds… it opens the door to unscrupulous borrowers…

Riccardo Petersen, Norton Rose Fulbright

I’m hoping this goes to the Constitutional Court… it doesn’t sit well with me…

Riccardo Petersen, Norton Rose Fulbright

Everyone who makes a loan must register as a credit provider, the Appeal Court found.

It doesn’t matter if the provider of the loan is involved in the credit industry, or whether it’s a once-off transaction.

Ray White (in for Bruce Whitfield on The Money Show) interviewed Riccardo Petersen, Director at Norton Rose Fulbright.

Listen to the interview in the audio below.

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