National Consumer Credit Protection (Transitional and Consequential Provisions) Regulations 2010
13Persons exempt from being registered — third parties
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13 Persons exempt from being registered — third parties
(1) For paragraph 42 (a) of Schedule 2 of the Act, this regulation exempts certain persons engaging in a credit activity from:
(c) instruments made for the purposes of any of the provisions mentioned in paragraphs (a) and (b).
Note Item 4 of Schedule 2 to the Act provides that a person must not engage in a credit activity during a specified period unless the person is registered or holds a licence authorising the person to engage in the credit activity.
Note: That item also provides that it is a defence if the person is a credit representative of a person who is registered or holds a licence authorising the person to engage in the credit activity.
Note: Item 6 of Schedule 2 to the Act provides that a person must not engage in a credit activity during a specified period unless the person:
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.
(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;
(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.