Arrangements for certain financial products that are not credit facilities
7.1.06A Arrangements for certain financial products that are not credit facilities
This regulation applies in relation to a financial product that would be a credit facility in accordance with regulation 7.1.06 if subparagraphs 7.1.06(1)(a)(iv), (v), (va) and (vi), and 7.1.06(1)(f)(ii), (iii), (iiia) and (iv) did not apply.
For paragraph 761E(7)(a) of the Act, and in relation to the financial product:
the credit provider is not taken to be the issuer of the financial product; and
the debtor is taken to be the issuer of the financial product.
For paragraph 766A(2)(b) of the Act, and in relation to the financial product:
the provision of financial product advice to the debtor, or the debtor’s representative, is taken not to be the provision of a financial service; and
a dealing in the credit facility by the credit provider, or the credit provider’s representative, is taken not to be the provision of a financial service.
In this regulation:
credit, credit provider and debtor have the same meanings as in subregulation 7.1.06(3).
This Act’s bill:Explanatory statement
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