Document ID: chunk:federal_register_of_legislation:C2024C00826:clause:1_6:p3
Version: federal_register_of_legislation:C2024C00826
Segment Type: clause
Provision Reference: sch 1 cl 6 (pt 3/3)
Character Range: 743574–745872

or former employee (whether or not it is provided to the employee or former employee with another person). However, for a credit provider that provides credit to which this Code applies in the course of a business of providing credit to which this Code applies to employees or former employees and to others, this subsection applies only to the provision of credit on terms that are more favourable to the debtor than the terms on which the credit provider provides credit to persons who are not employees or former employees of the credit provider or a related body corporate.

Margin loans
 (12) This Code does not apply to the provision of credit by way of a margin loan (within the meaning of subsection 761EA(1) of the Corporations Act 2001).

Regulations may exclude credit
 (13) The regulations may exclude, from the application of this Code, the provision of credit of a class specified in the regulations. In particular (but without limiting the generality of the foregoing), the regulations may so exclude the provision of credit if the amount of the credit exceeds or may exceed a specified amount or if the credit is provided by a credit provider of a specified class.

ASIC may exclude credit
 (14) ASIC may exclude, from the application of this Code, a provision of credit specified by ASIC.
 (15) Without limiting subsection (14), ASIC may exclude a provision of credit if:
 (a) the amount of the credit exceeds, or may exceed, a specified amount; or
 (b) the credit is provided by a specified credit provider.
 (16) An exemption under subsection (14) is not a legislative instrument.
 (17) ASIC may, by legislative instrument, exclude from the application of this Code, the provision of credit of a class specified in the instrument.
 (18) Without limiting subsection (17), ASIC may exclude a provision of credit if:
 (a) the amount of the credit exceeds, or may exceed, a specified amount; or
 (b) the credit is provided by a specified credit provider, or a class of credit providers.

Definitions
 (19) In this section:
fee or charge does not include a government fee, charge or duty of any kind.
security, of pawned or pledged goods, means security by way of bailment of the goods under which the title to the goods does not pass, conditionally or unconditionally, to the bailee.