Document ID: chunk:federal_register_of_legislation:F2024C00975:reg:13:p1
Version: federal_register_of_legislation:F2024C00975
Segment Type: reg
Provision Reference: reg 13 (pt 1/2)
Character Range: 16050–18804

13  Lodging a valid notification for eligible credit activities
 (1) The provider's notification complies with this subsection for an eligible credit activity (the current credit activity) if:
 (a) the notification includes the matters in subsection (2); and
 (b) the notification states that the provider is proposing to use the exemption under section 6 for the current credit activity; and
 (c) if the provider, or a related body corporate of the provider, has earlier obtained an exemption under section 6 for another eligible credit activity—that other credit activity is not covered by the same item of the table in subsection 6(1) of the Act as the current credit activity; and
 (d) no related body corporate of the provider currently has:
 (i) an exemption under section 6 for an eligible credit activity; or
 (ii) an exemption under section 6 of the Corporations (FinTech Sandbox Australian Financial Services Licence Exemption) Regulations 2020; and
 (e) no related body corporate of the provider has lodged with ASIC:
 (i) a notification under this instrument that includes the matters in subsection (2); or
 (ii) a notification under the Corporations (FinTech Sandbox Australian Financial Services Licence Exemption) Regulations 2020 that includes the matters in subsection 16(2) of that instrument;
  during the 30‑day period ending on the day the notification referred to in paragraph (a) of this subsection is lodged with ASIC.
Note: A consequence of this subsection is that only one member of a group of related bodies corporate can ever use the exemption to test credit activities at any one time.
 (2) The matters to include in the notification are as follows:
 (a) the provider's name, address and contact details;
 (b) the address of the provider's website (if any);
 (c) if the provider is a natural person—the person's date of birth;
 (d) if the provider is a body corporate:
 (i) the provider's ABN, ACN and ARBN, (within the meaning of the Corporations Act 2001) if any; and
 (ii) the name and contact details of a contact person who is a natural person who can be contacted in relation to the notice;
 (e) if the provider is:
 (i) a licensee; or
 (ii) a credit representative of a licensee; or
 (iii) a related body corporate of a person referred to in subparagraph (i) or (ii);
  that licensee's Australian credit licence number;
 (f) a description of each eligible credit activity for which the provider is proposing to use the exemption under section 6;
 (g) a justification of why exempting each eligible credit activity covered by paragraph (f) will result, or be likely to result, in a benefit to the public that will outweigh the detriment to the public that will result, or be likely to result, from exempting that credit