Securitisation Forum wins credit amendment 22 June 2010 4:39PM John Kavanagh Special purpose funding entities that are credit providers or lessors in the securitisation industry and other parts of the non-bank sector will not be required to hold an Australian credit licence. This ruling was the main item among a number of amendments to consumer credit regulation issued by the Minister for Financial Services, Chris Bowen, late last week.The change is a win for the Australian Securitisation Forum, which has lobbied the government to keep lenders of record, such as Perpetual and BNY, and wholesale funders out of the National Consumer Credit Protection regime.National Consumer Credit Protection Amendment Regulations 2010 (No.3) introduces two exemptions from holding a licence: a fundraising special purpose entity; and a securitisation entity. A fundraising special purpose entity is a company or trust that has the sole purpose of raising funds to be a credit provider or lessor and raises funds other than from natural persons.A securitisation entity is a company or trust that carries on the business of managing, by way of a securitisation, some or all of the economic risk associated with its assets, liabilities or investments.