Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:1:p49
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 1 (pt 49/148)
Character Range: 455456–458168

a litigation funding scheme mentioned in regulation 5C.11.01;
 (b) a litigation funding arrangement mentioned in regulation 5C.11.01.
 (3) In this regulation:
credit means a contract, arrangement or understanding:
 (a) under which:
 (i) payment of a debt owed by one person (a debtor) to another person (a credit provider) is deferred; or
 (ii) one person (a debtor) incurs a deferred debt to another person (a credit provider); and
 (b) including any of the following:
 (i) any form of financial accommodation;
 (ii) a hire purchase agreement;
 (iii) credit provided for the purchase of goods or services;
 (iv) a contract, arrangement or understanding for the hire, lease or rental of goods or services, other than a contract, arrangement or understanding under which:
 (A) full payment is made before or when the goods or services are provided; and
 (B) for the hire, lease or rental of goods—an amount at least equal to the value of the goods is paid as a deposit in relation to the return of the goods;
 (v) an article known as a credit card or charge card;
 (vi) an article, other than a credit card or a charge card, intended to be used to obtain cash, goods or services;
 (vii) an article, other than a credit card or a charge card, commonly issued to customers or prospective customers by persons who carry on business for the purpose of obtaining goods or services from those persons by way of a loan;
 (viii) a liability in respect of redeemable preference shares;
 (ix) a financial benefit arising from or as a result of a loan;
 (x) assistance in obtaining a financial benefit arising from or as a result of a loan;
 (xi) issuing, indorsing or otherwise dealing in a promissory note;
 (xii) drawing, accepting, indorsing or otherwise dealing in a negotiable instrument (including a bill of exchange);
 (xiii) granting or taking a lease over real or personal property;
 (xiv) a letter of credit.

7.1.06A  Arrangements for certain financial products that are not credit facilities
 (1) This regulation applies in relation to a financial product that would be a credit facility in accordance with regulation 7.1.06 if subparagraphs 7.1.06(1)(a)(iv), (v), (va) and (vi), and 7.1.06(1)(f)(ii), (iii), (iiia) and (iv) did not apply.
 (2) For paragraph 761E(7)(a) of the Act, and in relation to the financial product:
 (a) the credit provider is not taken to be the issuer of the financial product; and
 (b) the debtor is taken to be the issuer of the financial product.
 (3) For paragraph 766A(2)(b) of the Act, and in relation to the financial product:
 (a) the provision of financial product advice to the debtor, or the debtor's representative, is taken not to be the provision of a financial service;