Consumer Credit Act 2025 · Updated to 31 Dec 2025 · Part V · Licensing and Registration
61. Minimum financial requirements for registration
Feedback & supportNo person shall be registered under section 59 if such person does not meet the minimum financial requirements as may be specified by the Commission.
person
“person” includes an individual, any sole proprietorship, corporation, statutory body, local authority, society, trade union, co-operative society, partnership and any other body, organization, association or group of persons, whether corporate or unincorporate;
In carrying on its credit service business, a registered credit service provider shall comply, at all times, with the minimum financial requirements as may be specified by the Commission.
credit service business
“credit service business” means any business providing services relating to credit as set out in Schedule 3;
Consumer Credit 59
credit
“credit” means any arrangement, agreement or facility as set out in subsection 5(2);
A registered credit service provider shall not continue to carry on any credit service business without the prior written consent of the Commission, if it does not meet the minimum financial requirements as specified under subsection (1).
credit service provider
“credit service provider” means a person who carries on a credit service business where the person— (a) is registered under Part V of this Act; (b) is registered to do so under the Capital Markets and Services Act 2007; or (c) is a permit holder under the Hire-Purchase Act 1967;