National Consumer Credit Protection (FinTech Sandbox Australian Credit Licence Exemption) Regulations 2020
17Condition—other obligations
Start here
Get a plain-English read of 17
Turn the raw legal text into a practical explanation grounded in National Consumer Credit Protection (FinTech Sandbox Australian Credit Licence Exemption) Regulations 2020.
17 Condition—other obligations
The condition in this section is met for an eligible credit activity if the provider complies with: (a) Chapter 3 of the Act (other than paragraphs 113(2)(d), 126(2)(d) and 127(2)(d), section 124A and Part 3‑2C), as if the provider were a licensee for the purposes of that Chapter; and (b) section 124A and Part 3‑2C of the Act, to the extent that those provisions relate to short‑term credit contracts, as if the provider were a licensee for the purposes of those provisions; and (c) Division 4A of Part 2, and Division 3 of Part 4, of the National Credit Code, as if the provider were a credit provider; and (d) Subdivision BA of Division 2 of Part 2 of the ASIC Act, as if the relevant contract (see paragraph (b) of the definition of eligible credit activity in section 5 of this instrument) for the credit activity were a consumer contract (within the meaning of subsection 12BF(3) of that Act); in relation to engaging in the credit activity during the testing period for the eligible class of credit activities that includes the credit activity.