Document ID: chunk:federal_register_of_legislation:F2024C00882:reg:21:p1
Version: federal_register_of_legislation:F2024C00882
Segment Type: reg
Provision Reference: reg 21 (pt 1/2)
Character Range: 96364–98950

21  Persons exempt from requiring a licence—debt collectors
 (1) For the purposes of paragraph 110(1)(a) of the Act, this regulation exempts certain persons engaging in a credit activity from:
 (a) section 29 of the Act; and
 (b) definitions in the Act, as they apply to references in the provisions mentioned in paragraph (a); and
 (c) instruments made for the purposes of any of the provisions mentioned in paragraphs (a) and (b).
Note: Section 29 of the Act provides that a person must not engage in a credit activity if the person does not hold a licence authorising the person to engage in the credit activity.
 (2) The person is exempted only to the extent that the person is engaging in the specified credit activity.
Note: If the person also engages in a credit activity that is not the subject of an exemption under the Act, the person is not exempted in relation to that credit activity.
 (3) A person is exempted if:
 (a) the person engages in a credit activity mentioned in:
 (i) paragraph (c) of item 1 of the table in subsection 6(1) of the Act, on behalf of the credit provider who is a licensee, registered person or exempt special purpose funding entity; or
 (ii) paragraph (c) of item 3 of the table in subsection 6(1) of the Act, on behalf of the lessor who is a licensee, registered person or exempt special purpose funding entity; or
 (iii) paragraph (b) of item 4 of the table in subsection 6(1) of the Act, on behalf of the mortgagee who is a licensee, registered person or exempt special purpose funding entity; or
 (iv) paragraph (b) of item 5 of the table in subsection 6(1) of the Act, on behalf of the other person who is a licensee, registered person or exempt special purpose funding entity; and
 (b) the person only performs the obligations, or exercises the rights, mentioned in those paragraphs in relation to:
 (i) demanding and receiving payments from:
 (A) borrowers or guarantors under credit contracts; or
 (B) lessees under consumer leases; and
 (ii) enforcing rights in relation to taking possession of:
 (A) property secured by a mortgage; or
 (B) goods hired under a consumer lease; and
 (c) either:
 (i) the person:
 (A) holds a licence or authorisation to engage in an activity mentioned in paragraph (a) under one or more of the Acts mentioned in subregulation (5); or
 (B) is authorised to act on behalf of a person who holds a licence or authorisation of a kind mentioned in sub‑subparagraph(A); or
 (ii) the person:
 (A) is not required to hold a licence or authorisation, or be authorised to act on behalf of a person who holds a licence