The National Consumer Credit Protection Amendment Regulations 2010 (No. 2) implement and clarify the previously announced exemptions.
The Regulations:
- amend various provisions in the National Consumer Credit Protection Regulations 2010 (the Principal Regulations) including the exemptions from licensing for providers of incidental member benefits, tax agents and lawyers, and the exemption in relation to the refinancing of loans for residential investment property;
- provide an exemption from licensing for persons engaging in credit services at the point of sale in relation to a continuing credit contract under which a branded or co-branded credit card will be provided and amending the exemption in the Principal Regulations for point of sale credit services; and
- implement the regime for regulating people with carried over instruments (COIs).
