9Not meeting certain limits will cause the exemption to cease automatically

9 Not meeting certain limits will cause the exemption to cease automatically

Each of the provider’s exemptions under section 6 for eligible financial services ceases to apply if (and when) the provider fails to meet: (a) a condition in a section of this Division for any of those eligible financial services; or (b) a condition in a section of Division 1 of Part 3 of the National Consumer Credit Protection (FinTech Sandbox Australian Credit Licence Exemption) Regulations 2020 for an eligible credit activity (within the meaning of those Regulations) for which the provider has an exemption under those Regulations.