14Persons exempt from requiring registration — suppliers of goods or services

14 Persons exempt from requiring registration — suppliers of goods or services

(1) For paragraphs 42 (a) and (c) of Schedule 2 to the Act, this regulation:

(a) exempts certain persons engaging in a credit activity from:

(i) items 4 and 6 of Schedule 2 to the Act; and

(ii) definitions in the Act, as they apply to references in the provisions mentioned in subparagraph (i); and

(iii) instruments made for the purposes of any of the provisions mentioned in subparagraphs (i) and (ii); and

(b) modifies specified provisions for the purposes of the exemption under paragraph (a).

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: 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 is:

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 is:

(i) a supplier of goods or services (the supplier); or

(ii) a related body corporate of the supplier; or

(iii) engaging in a credit activity primarily on the premises of the supplier with the agreement of the supplier; and

(b) the person is:

(i) on behalf of a relevant credit provider for a credit contract or proposed credit contract, performing the obligations or exercising the rights of the relevant credit provider in relation to the contract or proposed contract; or

(ii) on behalf of a relevant lessor for a consumer lease or proposed consumer lease, performing the obligations or exercising the rights of the lessor under the lease or proposed lease; or

(iii) on behalf of a relevant mortgagee for a mortgage or proposed mortgage, performing the obligations or exercising the rights of the mortgagee under the mortgage or proposed mortgage; or

(iv) on behalf of a relevant beneficiary of a guarantee or proposed guarantee, performing the obligations or exercising the rights of the beneficiary in relation to the guarantee; or

(v) providing credit services in relation to a credit contract or consumer lease offered or provided by a relevant credit provider or relevant lessor; and

(c) if:

(i) the person is acting on behalf of the credit provider for a credit contract or proposed credit contract that is a loan contract or engaging in credit services in relation to a loan contract; and