Treasury Laws Amendment (Responsible Buy Now Pay Later and Other Measures) Act 2024 (138 of 2024)

Schedule 2   Buy now, pay later

Part 3   Credit representatives

National Consumer Credit Protection Act 2009

23   After subsection 71(5)

Insert:

Exceptions - sub-authorisations relating to low cost credit contracts

(5A) Subsections (1) and (4) do not apply to an authorisation under subsection 65(1) (which deals with sub-authorisations) that authorises a person to engage in credit activities in relation to a low cost credit contract.