Financial leasing companies

This Sub-class includes leasing where the term approximately covers the expected life of the asset and the lessee acquires substantially all the benefits of its use and takes all the risks associated with its ownership. Such leases cover all or virtually all costs including interest. Finance leasing differs from rental business in that units engaged in rental business keep stock of and take title to the goods they rent. However, units engaged in finance leasing do not keep stock of the goods they leased. Instead, they finance their clients in the purchase of machinery or equipment from outlets of clients' choice. The finance leasing companies (lessor) maintains ownership of the asset. After the terms of leasing expire, the ownership of the goods may or may not be transferred to the clients (lessee).

•operational leasing, see Division 77, according to type of goods leased