14Condition—notifying all consumers before engaging in an exempt credit activity

14 Condition—notifying all consumers before engaging in an exempt credit activity

The condition in this section is met for an eligible credit activity if, before engaging in the credit activity with a consumer, the provider clearly and prominently discloses to the consumer that: (a) the provider is not authorised by an Australian credit licence to engage in the credit activity; and (b) the provider is not a credit representative of a licensee for engaging in the credit activity; and (c) the credit activity is being provided under an exemption provided under the National Consumer Credit Protection (FinTech Sandbox Australian Credit Licence Exemption) Regulations 2020; and (d) some of the normal protections associated with receiving credit activities or credit services from a licensee will not apply; and (e) the provider will notify the consumer in writing if any of the events referred to in paragraph 15(a) (which the provider must list) happens.