Federal Register of Legislation - Australian Government

Primary content

Other as made
Instrument modifies the existing licensing exemption for financial counsellors in the National Consumer Credit Protection Regulations 2010 to allow financial counsellors to continue to rely on that exemption when they receive payments on behalf of a client from the Commonwealth or a State or Territory.
Administered by: Treasury
Registered 03 Nov 2015
Tabling HistoryDate
Tabled HR09-Nov-2015
Tabled Senate09-Nov-2015
Date of repeal 26 Sep 2017
Repealed by ASIC Corporations and Credit (Repeal) Instrument 2017/791
Table of contents.

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ASIC Credit (Financial Counselling Agencies) Instrument 2015/992

I, Anthony Graham, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

 

Date    29 October 2015

 

Anthony Graham

 



Part 1—Preliminary

1        Name of legislative instrument

This instrument is the ASIC Credit (Financial Counselling Agencies) Instrument 2015/992.

2        Commencement

This instrument commences on the day after it is registered on the Federal Register of Legislative Instruments.

Note:    The register may be accessed at www.comlaw.gov.au.

3        Authority

This instrument is made under paragraph 109(3)(d) of the National Consumer Credit Protection Act 2009.

4        Definitions

In this instrument:

Act means the National Consumer Credit Protection Act 2009.

Regulations means the National Consumer Credit Protection Regulations 2010.


Part 2—Declaration

5        Payments by the Commonwealth, a State or Territory to financial counselling agencies

The provisions to which Part 2-6 of the Act applies apply in relation to a person engaging in a credit activity as if paragraph 20(5)(e) of the Regulations were modified or varied by, after “financial counselling service”, inserting “, other than fees or charges (if any) that are payable on behalf of the client by the Commonwealth, a State or a Territory”.