Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) For the purposes of paragraphs 110(1)(c) and 164(d) of the Act, the provisions to which Parts 2 - 6 and 3 - 7 of the Act apply apply in relation to:
(a) a special purpose funding entity; or
(b) a licensee or registered person who is a party to a servicing agreement with a special purpose funding entity;
as if the provisions were modified as set out in Schedule 3.
(2) For paragraph (1)(a), each modification in Schedule 3 applies in relation to the special purpose funding entity from the time, or to the extent, that the obligation would apply to the licensee or registered person mentioned in paragraph (1)(b), in accordance with:
(a) item 19 of Schedule 1 to the Transitional Act; or
(b) item 36 of Schedule 2 to that Act;
if the licensee or registered person were the credit provider or the lessor.