(1) For subparagraph 765A(1)(h)(i) of the Act, each of the following is a credit facility :
(a) the provision of credit:
(ii) with or without prior agreement between the credit provider and the debtor; and
(iii) whether or not both credit and debit facilities are available; and
(iv) that is not a financial product mentioned in paragraph 763A(1)(a) of the Act; and
(v) that is not a security, a managed investment product, a foreign passport fund product , an investment life insurance product, a superannuation product or an RSA; and
(va) that is not a financial product mentioned in paragraph 764A(1)(ba), or (j) of the Act; and
(vi) that is not a financial product mentioned in paragraph 764A(1)(i) of the Act, other than a product the whole or predominant purpose of which is, or is intended to be, the provision of credit;
(i) known as a bill facility; and
(ii) under which a credit provider provides credit by accepting, drawing, discounting or indorsing a bill of exchange or promissory note;
(c) the provision of credit by a pawnbroker in the ordinary course of a pawnbroker's business (being a business which is being lawfully conducted by the pawnbroker);
(d) the provision of credit by the trustee of the estate of a deceased person by way of an advance to a beneficiary or prospective beneficiary of the estate;
(e) the provision of credit by an employer, or a related body corporate of an employer, to an employee or former employee (whether or not it is provided to the employee or former employee with another person);
(i) that secures obligations under a credit contract (other than a lien or charge arising by operation of any law or by custom); and
(ii) that is not a financial product mentioned in paragraph 763A(1)(a) of the Act; and
(iii) that is not a security, a managed investment product, a foreign passport fund product, an investment life insurance product, a superannuation product or an RSA; and
(iiia) that is not a financial product mentioned in paragraph 764A(1)(ba), or (j) of the Act; and
(iv) that is not a financial product mentioned in paragraph 764A(1)(i) of the Act, other than a product the whole or predominant purpose of which is, or is intended to be, the provision of credit;
(g) a guarantee related to a mortgage mentioned in paragraph (f);
(h) a guarantee of obligations under a credit contract.
(2) The provision of consumer credit insurance that includes a contract of general insurance for the Insurance Contracts Act 1984 is not a credit facility.
(2A) The following are not credit facilities:
(a) a litigation funding scheme mentioned in regulation 5C.11.01;
(b) a litigation funding arrangement mentioned in regulation 5C.11.01.
"credit" means a contract, arrangement or understanding:
(i) payment of a debt owed by one person (a debtor ) to another person (a credit provider ) is deferred; or
(ii) one person (a debtor ) incurs a deferred debt to another person (a credit provider ); and
(b) including any of the following:
(i) any form of financial accommodation;
(ii) a hire purchase agreement;
(iii) credit provided for the purchase of goods or services;
(iv) a contract, arrangement or understanding for the hire, lease or rental of goods or services, other than a contract, arrangement or understanding under which:
(A) full payment is made before or when the goods or services are provided; and
(B) for the hire, lease or rental of goods--an amount at least equal to the value of the goods is paid as a deposit in relation to the return of the goods;
(v) an article known as a credit card or charge card;
(vi) an article, other than a credit card or a charge card, intended to be used to obtain cash, goods or services;
(vii) an article, other than a credit card or a charge card, commonly issued to customers or prospective customers by persons who carry on business for the purpose of obtaining goods or services from those persons by way of a loan;
(viii) a liability in respect of redeemable preference shares;
(ix) a financial benefit arising from or as a result of a loan;
(x) assistance in obtaining a financial benefit arising from or as a result of a loan;
(xi) issuing, indorsing or otherwise dealing in a promissory note;
(xii) drawing, accepting, indorsing or otherwise dealing in a negotiable instrument (including a bill of exchange);
(xiii) granting or taking a lease over real or personal property;
(xiv) a letter of credit.