Commonwealth Consolidated Regulations

NATIONAL CONSUMER CREDIT PROTECTION REGULATIONS 2010 - REG 7A

    For paragraph   37(1)(e) of the Act, a requirement in relation to a person who:

  (a)   is a credit provider, lessor, mortgagee or beneficiary of a guarantee in relation to a carried over instrument immediately before 1   July 2010; and

  (b)   intends to engage in a credit activity in relation to the carried over instrument on or after 1   July 2010; and

  (c)   intends to engage in a credit activity otherwise than in relation to the carried over instrument on or after 1   July 2010;

is that the person must apply under section   36 of the Act for a licence to engage in the credit activities mentioned in paragraphs   (b) and (c).