National Consumer Credit Protection Act 2009

SCHEDULE 1 - NATIONAL CREDIT CODE  

Note:

PART 12 - MISCELLANEOUS  

Division 5 - Exemptions from this Code  

203A   Exemptions by ASIC  
Exemptions

203A(1)    
ASIC may exempt a person, contract, mortgage, guarantee or consumer lease from all or specified provisions of this Code.

203A(2)    
An exemption under subsection (1) is not a legislative instrument.

203A(3)    
ASIC may, by legislative instrument, exempt a class of persons, contracts, mortgages, guarantees or consumer leases from all or specified provisions of this Code.

Conditions on exemptions

203A(4)    
An exemption may apply unconditionally or subject to specified conditions. 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.

Publication of exemptions under subsection (1)

203A(5)    
An exemption under subsection (1) must be in writing and ASIC must publish notice of it on its website.