14DPersons exempt from requiring registration — employment agencies

14D Persons exempt from requiring registration — employment agencies

(1) For paragraph 42 (a) of Schedule 2 to 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: 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.

(3) The person is exempted if the person engages in a credit activity while performing functions, or exercising powers, in the following circumstances:

(a) the person provides a person to a licensee, registered person or a representative of a licensee or registered person; and

(b) that person engages in a credit activity on behalf of the licensee or registered person only as a person described in regulation 16D.

Note Regulation 16D relates to locums and temporary staff.

(4) For paragraph 42 (c) of Schedule 2 to the Act, the provisions of the Act to which Part 5 of Schedule 2 to the Act applies apply in relation to the person as if subitems 4 (4) and 6 (4) of Schedule 2 to the Act were omitted.