NATIONAL CONSUMER CREDIT PROTECTION REGULATIONS 2010 - REG 25 Activities exempt from requiring a licence

NATIONAL CONSUMER CREDIT PROTECTION REGULATIONS 2010 - REG 25

  (1)   For the purposes of paragraph   110(1)(b) of the Act, this regulation exempts certain credit activities from:

  (a)   section   29 of the Act; and

  (b)   definitions in the Act, as they apply to references in the provisions mentioned in paragraph   (a); and

  (c)   instruments made for the purposes of any of the provisions mentioned in paragraphs   (a) and (b).

Note:   Section   29 of the Act provides that a person must not engage in a credit activity if the person does not hold a licence authorising the person to engage in the credit activity.

  (2)   A credit activity is exempted if:

  (a)   the activity consists only of:

  (i)   a person ( person 1 ) informing another person ( person 2 ) that a licensee or registered person, or a representative of the licensee or registered person, is able to provide a particular credit activity or a class of credit activities; and

  (ii)   person 1 giving person 2 information about how person 2 may contact the licensee, registered person or representative; and

  (b)   at the time the activity is engaged in, person 1 discloses to person 2:

  (i)   any benefits, including indirect remuneration, that person 1, or an associate of person 1, may receive in respect of the activity; and

  (ii)   any benefits, including indirect remuneration, that person 1, or an associate of person 1, may receive that are attributable to the activity; and

  (c)   the disclosure mentioned in paragraph   (b) is provided in the same form as the information mentioned in paragraph   (a).

  (2A)   A credit activity is exempted if:

  (a)   the activity consists only of:

  (i)   a person ( person 1 ) informing another person ( person 2 ) that a licensee or registered person, or a representative of the licensee or registered person, is able to provide a particular credit activity or a class of credit activities; and

  (ii)   person 1 giving person 2 information about how person 2 may contact the licensee, registered person or representative; and

  (iii)   person 1 making arrangements enabling person 2 to contact the licensee, registered person or representative by means of a link that can be accessed from a website provided by or for person 1 or an associate of person 1; and

  (b)   at the time the activity is engaged in, person 1 discloses to person 2:

  (i)   any benefits, including indirect remuneration, that person 1, or an associate of person 1, may receive in respect of the activity; and

  (ii)   any benefits, including indirect remuneration, that person 1, or an associate of person 1, may receive that are attributable to the activity; and

  (c)   the disclosure mentioned in paragraph   (b) is provided in the same form as the information mentioned in subparagraph   (a)(ii).

  (3)   A credit activity is exempted if it is a credit activity engaged in in respect of the provision of credit mentioned in:

  (a)   subsection   6(9) or (11) of the Code; or

  (b)   regulation   52, 54, 55, 56, 57, 60, 61 or 63.

  (4)   A credit activity is exempted if:

  (a)   a person (the referrer ) engages in a credit activity before 1   October 2010; and

  (b)   the activity consists only of:

  (i)   the referrer informing another person (the consumer ) that a licensee or registered person, or a representative of a licensee or registered person, is able to provide a particular credit activity or a class of credit activities; and

  (ii)   the referrer giving to the licensee, registered person or representative the consumer's name and contact details; and

  (iii)   the referrer giving to the licensee, registered person or representative a short description of the purpose for which the consumer may want a provision of credit or a consumer lease (if the referrer knows the purpose); and

  (c)   the referrer is not banned from engaging in the credit activity under:

  (i)   a law of a State or Territory; or

  (ii)   Part   2 - 4 of the Act; and

  (d)   at the time the activity is engaged in, the referrer discloses to the consumer:

  (i)   any benefits, including indirect remuneration, that the referrer, or an associate of the referrer, may receive in respect of the activity; and

  (ii)   any benefits, including indirect remuneration, that the referrer, or an associate of the referrer, may receive that are attributable to the activity; and

  (e)   the referrer has not required the consumer to pay a fee to any person in relation to the referrer giving to the licensee, registered person or representative the consumer's name; and

  (f)   the consumer has consented to the referrer giving to the licensee, registered person or representative the consumer's name; and

  (g)   the referrer engages in the activity as a matter incidental to the carrying on of a business that is not principally making contact with persons for the purpose of giving their names or other details to another person.

  (5)   A credit activity is exempted if:

  (a)   a person (the referrer ) engages in a credit activity on or after 1   October 2010 under an agreement with the licensee or registered person or a representative of the licensee or registered person; and

  (b)   the agreement:

  (i)   specifies the conduct in which the referrer can engage as conduct to which the exemption applies; and

  (ii)   is:

  (A)   in writing only; or

  (B)   based on an offer made in writing by the licensee, registered person or representative that has been accepted by the referrer; and

  (c)   the activity consists only of:

  (i)   the referrer informing another person (the consumer ) that the licensee or registered person, or a representative of the licensee or registered person, is able to provide a particular credit activity or a class of credit activities; and

  (ii)   the referrer giving to the licensee, registered person or representative the consumer's name and contact details within 5 business days after informing the consumer; and

  (iii)   the referrer giving to the licensee, registered person or representative a short description of the purpose for which the consumer may want a provision of credit or a consumer lease (if the referrer knows the purpose); and

  (d)   the referrer is not banned from engaging in the credit activity under:

  (i)   a law of a State or Territory; or

  (ii)   Part   2 - 4 of the Act; and

  (e)   at the time the activity is engaged in, the referrer discloses to the consumer:

  (i)   any benefits, including indirect remuneration, that the referrer, or an associate of the referrer, may receive in respect of the activity; and

  (ii)   any benefits, including indirect remuneration, that the referrer, or an associate of the referrer, may receive that are attributable to the activity; and

  (f)   the referrer has not required the consumer to pay a fee to any person in relation to the referrer giving to the licensee, registered person or representative the consumer's name; and

  (g)   the consumer has consented to the referrer giving to the licensee, registered person or representative the consumer's name; and

  (h)   the referrer engages in the activity as a matter incidental to the carrying on of a business that is not principally making contact with persons for the purpose of giving their names or other details to another person; and

  (i)   the referrer does not conduct a business as part of which the referrer contacts persons face - to - face from non - standard business premises.