Document ID: chunk:federal_register_of_legislation:F2018C00776:reg:6:p4
Version: federal_register_of_legislation:F2018C00776
Segment Type: reg
Provision Reference: reg 6 (pt 4/6)
Character Range: 9030–12350

case of a consumer lease—the amount (rental charge) by which the rental payable under the lease exceeds the cash price of the goods; and
                      (d) the introducer or an associated person has determined, proposed or influenced the amount of the annual percentage rate or rental charge (as the case may be).
                     Note:  See the definition of determines, proposes or influences for various circumstances that do not amount to determining, proposing or influencing the amount of the annual percentage rate or rental charge.
                      Civil penalty: 2,000 penalty units.
(3) Subsection (2) does not apply to a benefit that is determined by, or varies by reference to, an annual percentage rate or rental charge if:
                     (a)  in the case of an annual percentage rate—both the following are satisfied:
                         (i) the annual percentage rate is not more than the annual percentage rate (specified rate) specified by a regulated person:
                            (A) before any determination, proposal or influence referred to in paragraph (2)(d); and
                            (B) as the maximum annual percentage rate that may apply with respect to the credit contract; and
                         (ii) either:
                            (A) the annual percentage rate is not less than the rate (base rate) that is 200 basis points less than the specified rate;
                            (B) otherwise—the amount of the benefit is equal to the amount that would be payable if the annual percentage rate were the base rate; or
                     (b) in the case of a rental charge—both the following are satisfied:
                         (i) the rental charge is not more than the amount of the rental charge (specified rental charge) specified by a regulated person:
                            (A) before any determination, proposal or influence referred to in paragraph (2)(d); and
                            (B) as the maximum rental charge that may apply with respect to the consumer lease; and
                         (ii) either:
                            (A) the rental charge is not less than the amount (base amount) that is 4% less than the specified rental charge;
                            (B) otherwise—the amount of the benefit is equal to the amount that would be payable if the rental charge were the base amount.
                  (4) Subsection (2) does not apply to a benefit given by a regulated person to any of the following:
                     (a) a director or employee of the regulated person;
                     (b) a related body corporate of the regulated person;
                     (c) a director or employee of a related body corporate of the regulated person.
              Offence
                  (5)  A person commits an offence if:
                     (a) the person is subject to a requirement under subsection (2); and
                     (b) the person engages in conduct; and
                     (c) the conduct contravenes the requirement.
                  Criminal penalty: 100 penalty units, or 2 years imprisonment, or both.
              53B  Obligation in relation to certain fees and charges
(1) Subject to subsection (5), a regulated person must not:
                     (a)