The National Credit Act only applies to credit that is:
(a) provided to a natural person or strata corporation; and
(b) is provided or intended to be provided wholly or predominantly:
(i) for personal, domestic or household purposes; or
(ii) to purchase, renovate or improve residential property for investment purposes; or
(iii) refinance credit that has been provided wholly or predominantly to purchase, renovate or improve residential property for investment purposes; and
(c) a charge is or may be made for providing credit; and
(d) the credit is provided in the course of carrying on a business of providing credit in Australia or as part of, or incidentally to, any other business carried on in Australia.
Lending to a company or trust or superfund is not governed by the Credit Act even if the Trustee is a natural person. In addition if the lending to a “consumer” is for business or investment purposes it is not regulated by the Credit Act unless it is for the purchase of residential property or to refinance such a purchase.