Commonwealth Consolidated Regulations

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Specific things that are not financial products: rental agreements

             (1)  This regulation applies to an arrangement between 2 persons ( person 1 and person 2 ) made in the following circumstances:

                     (a)  person 1 leases or rents something from person 2;

                     (b)  under the arrangement, person 1 makes a payment to person 2 to reduce the amount that person 1 would otherwise have to pay to person 2 under the leasing or rental agreement;

                     (c)  the payment relates to the event of an accident or other eventuality affecting the thing that is being leased or rented.

Example:    Collision damage waiver insurance for a rental car.

             (2)  For paragraph 765A(1)(y) of the Act, the arrangement is not a financial product.

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