Australian Securities and Investments Commission
National Credit Code – Subsection 6(17) – Exclusion
 
Enabling legislation

1.       The Australian Securities and Investments Commission (ASIC) makes this instrument under subsection 6(17) of the National Credit Code (the Code).
 
Note: The Code is found in Schedule 1 to the National Consumer Credit Protection Act 2009.
 
Title

2.       This instrument is ASIC Class Order [CO 13/18].
 
Commencement

3.       This instrument commences on the day it is registered under the Legislative Instruments Act 2003.
 
Note:    An instrument is registered when it is recorded on the Federal Register of Legislative Instruments (FRLI) in electronic form: see Legislative Instruments Act 2003, s 4 (definition of register).  The FRLI may be accessed at http://www.frli.gov.au/.
 
Exclusion
 
4.       ASIC excludes from the application of the Code a provision of credit constituted by:
 
(a)     an arrangement (a litigation funding arrangement) for participating in, conducting and funding legal proceedings brought by or on behalf of a person or persons; or
 
(b)     an arrangement (a proof of debt funding arrangement) for proving claims made by a person or persons under Division 6 of Part 5.6 of the Corporations Act 2001 (including funding of the preparation and lodgment of the proofs).
 
5.    This instrument has effect until 12 July 2013.
 
 
 
Dated this 9th day of January 2013
 
 
 
 
Signed by Grant Moodie
as a delegate of the Australian Securities and Investments Commission