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National Consumer Credit Protection (FinTech Sandbox Australian Credit Licence Exemption) Regulations 2020
In force
Administered by
Department of the Treasury
This item is authorised by the following title:
National Consumer Credit Protection Act 2009
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F2020L00635
02 June 2020
-
31 March 2021
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Part 1—Preliminary
1 Name
2 Commencement
3 Authority
4 Simplified outline of this instrument
5 Definitions
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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
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Part 3—When exemption ceases before the end of the testing period
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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.
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Division 2—Other ways exemption can cease
11 Exemption ceases because of ASIC decision
12 Exemption ceases if provider notifies ASIC
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Part 4—Requirements for the exemption to exist
13 Lodging a valid notification for eligible credit activities
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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
