26Definitions

#### 26 Definitions In this Chapter: > disclosure document means any of the following: (a) a credit guide mentioned in section 113, 126, 127, 136, 149, 150, 158 or 160 of the Act; (b) a credit proposal disclosure document mentioned in section 121 of the Act; (c) a lease proposal disclosure document mentioned in section 144 of the Act; (d) a quote mentioned in section 114 or 137 of the Act. > interest rate means the interest rate or rates applicable to: (a) a type of home loan; or (b) a home loan chosen by a consumer. > Note: For the characteristics of a home loan that is a standard form of credit contract, see regulation 28LA. > lender means a person or entity who: (a) may determine the pricing of a standard home loan; and (b) produces the Key Facts Sheet for that home loan. > licensee—see section 4.1 of Schedule 4. > managed contract means a credit contract or consumer lease entered into as a result of credit assistance provided by a mortgage manager under the terms of an agreement the mortgage manager has with a credit provider, lessor or third party to manage the contract or lease. > mortgage manager means a licensee who has a written agreement with: (a) a credit provider or lessor; or (b) a third party who is authorised to act for a credit provider or lessor (under a written agreement with the credit provider or lessor); and > under the terms of which: (c) the licensee is required to manage the relationship with the consumer on a day‑to‑day basis for the credit provider or lessor in accordance with the credit provider’s, lessor’s or third party’s policies and procedures; and (d) the credit contracts, consumer leases and associated documentation used by the licensee are branded or co‑branded with the name of the licensee. > product designer means a licensee who engages in a credit activity only through a written agreement with a credit provider or lessor under the terms of which: (a) the licensee manages a pool of funds from which credit contracts or consumer leases are provided; and (b) the licensee receives indirect remuneration that is worked out in relation to the net profit from operating the pool of funds; and (c) the licensee has responsibility for creating the policy for usage of the credit contracts or consumer leases, including the eligibility requirements for consumers. > relevant provision of the Act is a section of the Act which requires a disclosure document to be provided to a consumer. > trail commission means indirect remuneration that is contingent on a consumer’s conduct after the consumer has entered into a credit contract or consumer lease, and includes indirect remuneration that is dependent on the amount of a repayment, or the number of repayments, made by the consumer under the contract or lease. > volume bonus arrangement means an arrangement between: (a) a credit provider, lessor or other person (the payer); and (b) a licensee or credit representative (the payee); under which the amount of indirect remuneration payable by the payer to the payee increases as the total volume of business arranged by the payee with the payer increases.