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Credit: Relief

ob体育 may grant relief from various provisions of the credit legislation by making individual instruments, or legislative instruments (previously known as class orders) which have a wider application.

Individual instruments and legislative instruments made under the credit legislation are not published in the ob体育 Gazette.

This page contains:

Relief under the credit legislation

ob体育 may give relief from:

  • the licensing provisions under Chapter 2 of the National Credit Act
  • the responsible lending conduct provisions under Chapter 3 of the National Credit Act
  • the provisions of the National Credit Code.

ob体育 gives relief by way of individual instruments and legislative instruments.

Individual instruments are made in response to an application by a person (see Applying for individual relief).

Legislative instruments apply to a class of persons or contracts and are generally made by ob体育 of its own initiative. These instruments are sometimes also made in response to an application by a person or an industry association when ob体育 forms the view that the relief ought to apply more broadly.

Applying for individual relief

When applying for individual relief from the credit legislation, make sure you:

1. Apply early

If you鈥檙e thinking of applying for relief from the credit legislation, you should apply as early as possible. Applications for relief often raise issues that may take some time to resolve.

2. Apply through the ob体育 Regulatory Portal

You should submit your application for relief through the . You will need to pay fees for an application. We have provided details about payment options in the portal.

The portal features structured online transactions with mandatory fields and questions that make it easier for applicants to ensure the information ob体育 requires is provided upfront.

For more information, see how you apply for relief.

3. Address the criteria in our policies on relief

You should specifically address the criteria set out in our policies on relief. In particular, you should address the criteria set out in Regulatory Guide 51 Applications for relief (RG 51).

For example, in your application you should particularly address the commercial benefit and any net regulatory benefit or detriment from granting the relief you seek. If you think you have special circumstances or you are disproportionately affected by the credit legislation, clearly set out your reasons.

Credit relief instruments

Individual instruments made under the credit legislation (including section 203A of the National Credit Code, which is Schedule 1 to the National Consumer Credit Protection Act 2009 (National Credit Act)) are published on the ob体育 website. Specified exclusions made under subsections 6(14) and 171(4) of the National Credit Code are not published on the ob体育 website and are not available to the public.

See list of credit relief instruments.

Legislative instruments

Legislative instruments (previously known as class orders) made under the credit legislation are registered on the (FRL).

ob体育 also publishes the text of certain legislative instruments on the ob体育 website for the purposes of paragraphs 109(6)(a) and 163(6)(a) of the National Credit Act and for the purposes of paragraph 41(6)(a) of Schedule 2 to the National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009.

See list of legislative instruments.

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Last updated: 20/10/2014 12:00