Document ID: chunk:federal_register_of_legislation:C2024C00826:section:5:p6
Version: federal_register_of_legislation:C2024C00826
Segment Type: section
Provision Reference: s 5 (pt 6/11)
Character Range: 54414–57041

of the National Credit Code.
indirect remuneration means a commission or conflicted remuneration.
individual fine formula means the formula set out in subsection 288C(3).
infringement notice means a notice given under section 288J.
initial National Credit Code: see subsection 20(2).
insolvent means:
 (a) in the case of a natural person—a person who is an insolvent under administration; or
 (b) in the case of a body corporate—a body corporate that is a Chapter 5 body corporate (within the meaning of the Corporations Act 2001); or
 (c) in the case of a partnership—a partnership against which a creditor's petition or a debtor's petition is presented under Division 2 or 3 of Part IV of the Bankruptcy Act 1966.
investigate, in relation to ASIC, means investigate in the course of performing any of ASIC's functions or exercising any of ASIC's powers.
involved in: a person is involved in a contravention of a provision of legislation if, and only if, the person:
 (a) has aided, abetted, counselled or procured the contravention; or
 (b) has induced the contravention, whether by threats or promises or otherwise; or
 (c) has been in any way, by act or omission, directly or indirectly, knowingly concerned in or party to the contravention; or
 (d) has conspired with others to effect the contravention.
judgment means a judgment, decree or order, whether final or interlocutory.
Key Facts Sheet:
 (a) for a credit card contract—see section 133BB; and
 (b) for a standard home loan—see section 133AB.
knowledge, in Division 5 of Part 2‑2: see section 53C.
large ADI means an ADI of a kind determined under subsection (1A).
law of a referring State or a Territory means a law of, or in force in, a referring State or a Territory but does not include a law of the Commonwealth in force in the referring State or the Territory.
law of a State or Territory means a law of, or in force in, a State or Territory but does not include a law of the Commonwealth in force in the State or Territory.
lawyer means a person who is admitted to the legal profession by a federal court or a Supreme Court of a State or Territory.
lessee means the lessee under a consumer lease.
lessor has the same meaning as in section 204 of the National Credit Code, and includes a person who is a lessor because of section 10.
licence means an Australian credit licence.
licensee means a person who holds a licence.
licensing anniversary: see subsection 53(7).
linked: for when a credit card is linked to a credit card contract, see subsection 133BA(3).
lodge with ASIC: see section 216.
low cost credit contract has the same meaning as in section 13E