{"id":"F2017L00098","name":"ASIC Credit (Charities) Instrument 2017/64","slug":"asic-credit-charities-instrument-2017-64","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":439108,"registerId":"F2017L00098-fast-fetch-1775955247370","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Credit (Charities) Instrument 2017/64","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\n---\n\n?xml version=\"1.0\" encoding=\"utf-8\" standalone=\"no\"?>\n\n![Commonwealth Coat of Arms and ASIC logo](image.001.jpeg)\n\nASIC Credit (Charities) Instrument 2017/64\n\nI, Stephen Yen PSM, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.\n\nDate: 2 February 2017\n\n \n\n \n\n \n\nStephen Yen\n\n \n\nContents\n\n[Part 1—Preliminary](#_Toc473103407)\n\n[1 Name of legislative instrument](#_Toc473103408)\n\n[2 Commencement](#_Toc473103409)\n\n[3 Authority](#_Toc473103410)\n\n[4 Definitions](#_Toc473103411)\n\n[Part 2—Declaration](#_Toc473103412)\n\n[5 Persons exempt from holding a licence when engaging in credit activities for a charitable purpose](#_Toc473103413)\n\n \n\nPart 1—Preliminary\n\n1 Name of legislative instrument\n\nThis is the ASIC Credit (Charities) Instrument 2017/64.\n\n2 Commencement\n\nThis instrument commences on the day after it is registered on the Federal Register of Legislation.\n\nNote: The register may be accessed at [www.legislation.gov.au](http://www.legislation.gov.au).\n\n3 Authority\n\nThis instrument is made under paragraph 109(3)(d) of the National Consumer Credit Protection Act 2009. \n\n4 Definitions\n\nIn this instrument:\n\nAct means the National Consumer Credit Protection Act 2009.\n\nRegulations mean the National Consumer Credit Protection Regulations 2010.\n\nPart 2—Declaration\n\n5 Persons exempt from holding a licence when engaging in credit activities for a charitable purpose\n\nThe provisions to which Part 2-6 of the Act applies apply in relation to a person engaging in credit activities as if subparagraphs 20(12)(a)(i) and (ii) of the Regulations were each modified or varied by omitting “a charitable body (within the same meaning as in ASIC Class Order [CO 02/184])” and substituting “a charity (within the meaning of the Charities Act 2013) or a trustee of a charity”.\n\n \n","sortOrder":0}],"analysis":{"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The instrument maintains its original narrow purpose: exempting charities from credit licensing requirements. The amendment merely updates the definition of 'charity' to reflect current law, without expanding the types of activities covered or the scope of the exemption."},"complexity_factors":["Extremely short: only 5 sections across 2 Parts","Single operative provision (section 5) that performs one discrete amendment","Only 2 defined terms ('Act' and 'Regulations')","No nested conditions, exceptions, or cross-references beyond the single modification to subparagraphs 20(12)(a)(i) and (ii) of the Regulations","Straightforward substitution of defined terms — replacing an old class order reference with a modern statutory definition"],"plain_english_summary":"This instrument creates a licence exemption allowing charities to carry out credit activities (lending or credit assistance) without holding an Australian Credit Licence. It expands the existing exemption to cover charities under the Charities Act 2013 and their trustees.\n\nIt eases regulatory burden on organisations running no‑interest loans, microfinance or community credit schemes, letting them focus resources on charitable work rather than costly licensing compliance."},"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":true,"description":"Section 5 replaces the reference to “a charitable body (within the same meaning as in ASIC Class Order [CO 02/184])” with “a charity (within the meaning of the Charities Act 2013) or a trustee of a charity.” That substitution changes the definitional source and explicitly includes trustees, so who is exempt is determined by the Charities Act definition and trustee status rather than the prior ASIC class order language (see s5)."},"complexity_factors":["Relies on external definitions and instruments — the effect depends on the Charities Act 2013 and the prior ASIC Class Order terminology that is being replaced (see s5).","Operates by textual modification of specific regulation subparagraphs (20(12)(a)(i) and (ii)), so full legal effect requires reading those Regulations alongside this instrument (s5).","Delegated legislative power — instrument is made under paragraph 109(3)(d) of the National Consumer Credit Protection Act, constraining scope and review pathways (s3).","Narrow substantive text but fact-sensitive application: determining which credit activities are \"for a charitable purpose\" and whether an entity qualifies as a \"trustee of a charity\" requires case-by-case assessment (s5).","Commencement timing is immediate (the day after registration), which affects when affected parties stop or start licensing compliance (s2)."],"plain_english_summary":"This instrument changes the National Consumer Credit Protection Regulations so persons offering credit for a charitable purpose are exempt from holding an Australian credit licence if they are a “charity” under the Charities Act 2013 or a trustee of such a charity.\n\nPractically, charities and their trustees can extend credit for charitable purposes without licensing, reducing their compliance costs. The instrument was made by ASIC under paragraph 109(3)(d) of the Act and works by modifying subparagraphs 20(12)(a)(i) and (ii) of the Regulations."}},"importantCases":[],"_links":{"self":"/api/acts/asic-credit-charities-instrument-2017-64","history":"/api/acts/asic-credit-charities-instrument-2017-64/history","analysis":"/api/acts/asic-credit-charities-instrument-2017-64/analysis","conflicts":"/api/acts/asic-credit-charities-instrument-2017-64/conflicts","importantCases":"/api/acts/asic-credit-charities-instrument-2017-64/important-cases","documents":"/api/acts/asic-credit-charities-instrument-2017-64/documents"}}