The reference was prompted by comments received on an earlier working paper published by the Commission: Review of the Land Agents Act (Project No. 37). All commentators on the subject favoured the licensing of mortgage brokers. Indeed the Mortgage Brokers Association had for some years been making representations to government seeking the introduction of a system of licensing.
Terms of Reference
In 1973 the Commission was asked to consider and report on the question whether legislation should be enacted to control the activities of mortgage brokers.
Outcomes
The Finance Brokers Control Act 1975 (WA) implemented the Commission’s recommendations.
See also Finance Brokers Control (General) Regulations 1977 (WA).
