Document ID: chunk:federal_register_of_legislation:C2020A00008:clause:1_5
Version: federal_register_of_legislation:C2020A00008
Segment Type: clause
Provision Reference: sch 1 cl 5
Character Range: 5242–5931

5  At the end of section 110
Add:
 (2) An exemption that:
 (a) is made for the purposes of paragraph (1)(a); and
 (b) exempts a person or class of persons from subsection 29(1) to enable testing of particular credit activities;
may apply unconditionally or subject to specified conditions.
 (3) A person to whom a condition specified in an exemption applies must comply with the condition. The Court may order the person to comply with the condition in a specified way. Only ASIC may apply to the Court for the order.
 (4) An exemption described in subsection (2) may empower ASIC to make decisions relating to how the exemption starts or ceases to apply to a person or class of persons.