Commonwealth Numbered Regulations
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NATIONAL CONSUMER CREDIT PROTECTION (FINTECH SANDBOX AUSTRALIAN CREDIT
LICENCE EXEMPTION) REGULATIONS 2020 (F2020L00635)
TABLE OF PROVISIONS
PART 1--PRELIMINARY
1. Name
2. Commencement
3. Authority
4. Simplified outline of this instrument
5. Definitions
PART 2--EXEMPTION FROM CREDIT ACTIVITY LICENSING REQUIREMENTS FOR TESTING IN THE FINTECH SANDBOX
6. Exemption for testing eligible credit activities in the FinTech sandbox
7. Duration of the exemption
8. Grounds for ASIC deciding that the exemption is not available
PART 3--WHEN EXEMPTION CEASES BEFORE THE END OF THE TESTING PERIOD
Division 1--When exemption ceases automatically
9. Not meeting certain limits will cause the exemption to cease automatically
10. Exposure limits for exempt credit activities--total limit for all activities etc.
Division 2--Other ways exemption can cease
11. Exemption ceases because of ASIC decision
12. Exemption ceases if provider notifies ASIC
PART 4--REQUIREMENTS FOR THE EXEMPTION TO EXIST
13. Lodging a valid notification for eligible credit activities
PART 5--CONDITIONS FOR THE EXEMPTION
14. Condition--notifying all consumers before engaging in an exempt credit activity
15. Condition--notifying consumers while engaging in an exempt credit activity
16. Condition--maintaining certain procedures, memberships and arrangements
17. Condition--other obligations
18. Condition--make-good orders
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