Document ID: chunk:federal_register_of_legislation:F2024C00882:clause:3_148
Version: federal_register_of_legislation:F2024C00882
Segment Type: clause
Provision Reference: sch 3 cl 148
Character Range: 512705–514425

148  Definition for this Part
  In this Part:
licensee means a licensee or registered person.

3.37  Subsection 149(1)
substitute
 (1) As soon as practicable after it becomes apparent to an exempt special purpose funding entity that a licensee with whom it has a servicing agreement is likely to enter a consumer lease with a consumer who will be the lessee under the lease, the entity must take reasonable steps to ensure that the licensee gives the consumer the licensee's credit guide in accordance with subsection (2).
Civil penalty: 5,000 penalty units.

3.38  Subsection 150(1)
substitute
 (1) If an exempt special purpose funding entity has been assigned any rights or obligations of a lessor under a consumer lease and a licensee is acting on behalf of the entity, the entity must take reasonable steps to ensure that the licensee:
 (a) gives the lessee under the lease the licensee's credit guide in accordance with subsection (2); and
 (b) gives the credit guide to the lessee as soon as practicable after the entity has been assigned the rights or obligations.
Civil penalty: 5,000 penalty units.

3.39  Section 151
omit
A licensee
insert
An exempt special purpose funding entity

3.39A  Section 151
omit
the licensee
insert
the exempt special purpose funding entity

3.40  Section 152
omit each mention of
licensee
insert
exempt special purpose funding entity

3.41  Section 153
omit
licensee
insert
special purpose funding entity

3.42  Section 154
omit each mention of
licensee
insert
special purpose funding entity

3.43  Section 155
omit each mention of
licensee
insert
special purpose funding entity

3.44  Section 156
omit
licensee
insert
special purpose funding entity

3.45  After section 159
insert