16Activities exempt from being registered

16 Activities exempt from being registered

(1) For paragraph 42 (b) of Schedule 2 to the Act, this regulation exempts certain credit activities from:

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:

(2) A credit activity is exempted if:

(a) the activity consists only of:

(i) a person (person 1) informing another person (person 2) that a licensee or registered person, or a representative of the licensee or registered person, is able to provide a particular credit activity or a class of credit activities; and

(ii) person 1 giving person 2 information about how person 2 may contact the licensee, registered person or representative; and

(b) at the time the activity is engaged in, person 1 discloses to person 2:

(i) any benefits, including commission, that person 1, or an associate of person 1, may receive in respect of the activity; and

(ii) any benefits, including commission, that person 1, or an associate of person 1, may receive that are attributable to the activity; and

(c) the disclosure mentioned in paragraph (b) is provided in the same form as the information mentioned in paragraph (a).

(2A) A credit activity is exempted if:

(a) the activity consists only of:

(i) a person (person 1) informing another person (person 2) that a licensee or registered person, or a representative of the licensee or registered person, is able to provide a particular credit activity or a class of credit activities; and

(ii) person 1 giving person 2 information about how person 2 may contact the licensee, registered person or representative; and

(iii) person 1 making arrangements enabling person 2 to contact the licensee, registered person or representative by means of a link that can be accessed from a website provided by the referrer; and

(b) at the time the activity is engaged in, person 1 discloses to person 2:

(i) any benefits, including commission, that person 1, or an associate of person 1, may receive in respect of the activity; and

(ii) any benefits, including commission, that person 1, or an associate of person 1, may receive that are attributable to the activity; and

(c) the disclosure mentioned in paragraph (b) is provided in the same form as the information mentioned in subparagraph (a) (ii).