22Persons exempt from requiring a licence—third parties

#### 22 Persons exempt from requiring a licence—third parties (1) For the purposes of paragraph 110(1)(a) of the Act, this regulation exempts certain persons engaging in a credit activity 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. > Note: Subsection 29(3) provides, among other things, that it is a defence if the person is a credit representative of a person who holds a licence. (2) The person is exempted only to the extent that the person is engaging in the specified credit activity. > Note: If the person also engages in a credit activity that is not the subject of an exemption under the Act, the person is not exempted in relation to that credit activity. (3) A person is exempted if: (a) the person engages in a credit activity by selling, storing or transporting property of a debtor, lessor, mortgagor or guarantor on behalf of: (i) a credit provider who is a licensee, registered person or exempt special purpose funding entity; or (ii) a mortgagee who is a licensee, registered person or exempt special purpose funding entity; or (iii) a person who is the beneficiary of a guarantee who is a licensee, registered person or exempt special purpose funding entity; or (iv) a lessor who is a licensee, registered person or exempt special purpose funding entity; or (b) the person engages in a credit activity by giving or sending to a debtor, lessee, mortgagor or guarantor, on behalf of: (i) a credit provider who is a licensee, registered person or exempt special purpose funding entity; or (ii) a mortgagee who is a licensee, registered person or exempt special purpose funding entity; or (iii) a person who is the beneficiary of a guarantee who is a licensee, registered person or exempt special purpose funding entity; or (iv) a lessor who is a licensee, registered person or exempt special purpose funding entity; a notice or document that the person mentioned in subregulation (i), (ii), (iii) or (iv) is obliged by law to give or send to the debtor, lessee, mortgagor or guarantor.