Document ID: chunk:federal_register_of_legislation:F2024C00882:reg:3:p2
Version: federal_register_of_legislation:F2024C00882
Segment Type: reg
Provision Reference: reg 3 (pt 2/5)
Character Range: 23181–25826

of a Territory.
exempt special purpose funding entity means a special purpose funding entity that is engaging in a credit activity and is exempt, under regulation 23B or 23C, from the requirement to hold a licence.
financial counselling association has the same meaning as in regulation 7.6.01 of the Corporations Regulations 2001.
financial counselling service means a counselling and advocacy service provided predominantly for the purpose of assisting individuals who are in financial difficulty to resolve their problems.
foreign company means either of the following:
 (a) a body corporate that is incorporated in an external Territory, or outside Australia and the external Territories, and is not:
 (i) a corporation sole; or
 (ii) an exempt public authority;
 (b) an unincorporated body that:
 (i) is formed in an external Territory or outside Australia and the external Territories; and
 (ii) under the law of its place of formation, may sue or be sued, or may hold property in the name of its secretary or of an officer of the body duly appointed for that purpose; and
 (iii) does not have its head office or principal place of business in Australia.
fund raising special purpose entity has the meaning given by subsection 5(1) of the Act as modified by item 3.2 of Schedule 3.
home renovation or improvement facility: see subregulation 28VC(4).
inappropriate person means:
 (a) a person in relation to whom:
 (i) a prescribed State or Territory order is in force; or
 (ii) a banning or disqualification order under Division 8 of Part 7.6 of the Corporations Act 2001 is in force; or
 (b) a person who is banned from engaging in a credit activity under:
 (i) a law of a State or Territory; or
 (ii) Part 2‑4 of the Act; or
 (c) a person who has been convicted of a serious fraud during the last 10 years; or
 (d) a person who is disqualified from managing a corporation under Part 2D.6 of the Corporations Act 2001; or
 (e) a person:
 (i) who is registered to engage in credit activities under Schedule 2 of the Transitional Act; and
 (ii) whose registration is suspended under a provision of item 23 of Schedule 2 to the Transitional Act, other than under paragraph 23(1)(a) or (b); or
 (f) a person:
 (i) who has been registered to engage in credit activities under Schedule 2 of the Transitional Act; and
 (ii) whose registration has been cancelled under a provision of item 23 of Schedule 2 to the Transitional Act, other than paragraph 23(1)(a) or (b); or
 (g) a person:
 (i) who is the holder of an Australian credit licence; and
 (ii) whose licence is suspended on a ground mentioned in subsection 54(1) of the Act, other than a