Document ID: chunk:federal_register_of_legislation:C2024A00138:clause:2_8:p2
Version: federal_register_of_legislation:C2024A00138
Segment Type: clause
Provision Reference: sch 2 cl 8 (pt 2/2)
Character Range: 48196–49747

to engage in the covered credit activity; and
 (ii) could, after the delayed commencement time, be validly so authorised under section 64 of the Credit Act (as amended by this Act); and
 (iii) is authorised in writing by the applicant to act on behalf of the applicant and is acting within that authority;
 (d) if there is a person covered by paragraph (c) of this subitem (a prospective credit representative) in relation to the applicant—another person who:
 (i) the prospective credit representative intends to authorise under section 65 of the Credit Act to engage in the covered credit activity on behalf of the applicant, if the applicant becomes licensed to engage in the covered credit activity and the prospective credit representative becomes a credit representative of the applicant in relation to the covered credit activity; and
 (ii) could, after the delayed commencement time, be validly so authorised under section 65 of the Credit Act (as amended by this Act); and
 (iii) with the written consent of the applicant, is authorised in writing by the prospective credit representative to act on behalf of the applicant and is acting within that authority.

Definitions
(5) In this item:
covered credit activity means credit activity that relates to a buy now pay later contract or a low cost credit contract.
Credit Act means the National Consumer Credit Protection Act 2009.
delayed commencement time means the time when Part 2 of this Schedule commences.

Part 2—Responsible lending conduct

National Consumer Credit Protection Act 2009