Commonwealth Consolidated Regulations

NATIONAL CONSUMER CREDIT PROTECTION (FINTECH SANDBOX AUSTRALIAN CREDIT LICENCE EXEMPTION) REGULATIONS 2020 - REG 17

    The condition in this section is met for an eligible credit activity if the provider complies with:

  (a)   Chapter   3 of the Act (other than paragraphs 113(2)(d), 126(2)(d) and 127(2)(d), section   124A and Part   3 - 2C), as if the provider were a licensee for the purposes of that Chapter; and

  (b)   section   124A and Part   3 - 2C of the Act, to the extent that those provisions relate to short - term credit contracts, as if the provider were a licensee for the purposes of those provisions; and

  (c)   Division   4A of Part   2, and Division   3 of Part   4, of the National Credit Code, as if the provider were a credit provider; and

  (d)   Subdivision BA of Division   2 of Part   2 of the ASIC Act, as if the relevant contract (see paragraph   (b) of the definition of eligible credit activity in section   5 of this instrument) for the credit activity were a consumer contract (within the meaning of subsection   12BF(3) of that Act);

in relation to engaging in the credit activity during the testing period for the eligible class of credit activities that includes the credit activity.