14APersons exempt from requiring registration — suppliers of goods or services with branded or

14A Persons exempt from requiring registration — suppliers of goods or services with branded or
co-branded credit card

(1) For paragraph 42 (c) of Schedule 2 to the Act, this regulation exempts certain persons engaging in a credit activity from:

Note Item 4 of Schedule 2 to the Act provides that a person must not engage in a credit activity during the 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 the 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 the specified period unless the person:

(2) The person is exempted only to the extent that the person is engaging in the specified credit activity in relation to a continuing credit contract under which a credit card is provided.

Note If the person also engages in a credit activity that is not the subject of an exemption under the Act or the National Credit Act, the person is not exempted in relation to that credit activity.

(3) The person is exempted if:

(a) the person is:

(i) a supplier of goods or services; or

(ii) a related body corporate of a supplier of goods or services; or

(iii) engaging in a credit activity on behalf of the supplier of goods or services; and

(b) the person meets the requirements of subregulation (4) or (5).

(4) For paragraph (3) (b), the requirements are that the person is performing the obligations or exercising the rights of a credit provider in relation to a credit contract or proposed credit contract:

(a) on behalf of the credit provider who is a linked credit provider of the supplier and is a licensee, registered person or exempt special purpose funding entity; and

(b) in relation to a continuing credit contract under which a credit card is:

(i) provided or would be provided if the contract were entered into; and

(ii) branded or co-branded with the name of the supplier or a related body corporate of the supplier or any other words, phrase, initials or logo associated with the supplier or related body corporate.

(5) For paragraph (3) (b), the requirements are that the person is providing credit services in relation to a continuing credit card contract under which a credit card is provided or would be provided if the contract were entered into and the: