Commonwealth Consolidated Regulations Commonwealth Consolidated RegulationsThe condition in this section is met for an eligible credit activity if, before engaging in the credit activity with a consumer, the provider clearly and prominently discloses to the consumer that:
(a) the provider is not authorised by an Australian credit licence to engage in the credit activity; and
(b) the provider is not a credit representative of a licensee for engaging in the credit activity; and
(c) the credit activity is being provided under an exemption provided under the National Consumer Credit Protection (FinTech Sandbox Australian Credit Licence Exemption) Regulations 2020 ; and
(d) some of the normal protections associated with receiving credit activities or credit services from a licensee will not apply; and
(e) the provider will notify the consumer in writing if any of the events referred to in paragraph 15(a) (which the provider must list) happens.