Document ID: chunk:federal_register_of_legislation:C2024C00826:section:110
Version: federal_register_of_legislation:C2024C00826
Segment Type: section
Provision Reference: s 110
Character Range: 226825–228096

110  Exemptions and modifications by the regulations
 (1) The regulations may:
 (a) exempt a person or class of persons from all or specified provisions to which this Part applies; or
 (b) exempt a credit activity or a class of credit activities from all or specified provisions to which this Part applies; or
 (c) provide that the provisions to which this Part applies apply as if specified provisions were omitted, modified or varied as specified in the regulations.
 (2) An exemption that:
 (a) is made for the purposes of paragraph (1)(a); and
 (b) exempts a person or class of persons from subsection 29(1) to enable testing of particular credit activities;
may apply unconditionally or subject to specified conditions.
 (3) A person to whom a condition specified in an exemption applies must comply with the condition. The Court may order the person to comply with the condition in a specified way. Only ASIC may apply to the Court for the order.
 (4) An exemption described in subsection (2) may empower ASIC to make decisions relating to how the exemption starts or ceases to apply to a person or class of persons.

Chapter 3—Responsible lending conduct

Part 3‑1—Licensees that provide credit assistance in relation to credit contracts

Division 1—Introduction