National Consumer Credit Protection (Transitional and Consequential Provisions) Regulations 2010
34Application of Schedule 2 to the Act if credit provider or lessor for carried over instrument before 1 July 2010
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34 Application of Schedule 2 to the Act if credit provider or lessor for carried over instrument before 1 July 2010
For subitem 20 (2) of Schedule 1 to the Act, Schedule 2 to the Act (not including items 4 and 6) applies to the person in relation to the credit activity engaged in in relation to the carried over instrument if the person:
(a) was the credit provider, lessor, mortgagee or beneficiary of a guarantee in relation to the instrument immediately before 1 July 2010; and
(b) applies for registration under item 11 of Schedule 2 to the Act.
Note Under subitem 3 (2) of Schedule 1 to the Act, the National Credit Code applies in relation to a carried over instrument.