ASIC has announced that since registration opened on 1 April for all those entities and individuals intending to engage in credit activities after 1 July 2010, ASIC has received over 8700 registrations (as at 19 May 2010).

ASIC has confirmed that registrations close on 30 June 2010 but says that anyone who waits until after 18 June 2010 to apply, risks not being registered by the end of the registration period.

If you are not registered with ASIC by 30 June 2010 or acting as the authorised credit representative of someone who is registered, you must stop engaging in credit activities until you either become registered or have an Australian credit licence.