National Consumer Credit Protection Act 2009

CHAPTER 3 - RESPONSIBLE LENDING CONDUCT  

PART 3-2A - LICENSEES THAT ARE CREDIT PROVIDERS UNDER CREDIT CONTRACTS: ADDITIONAL RULES RELATING TO STANDARD HOME LOANS  

Division 2 - Key Facts Sheets for standard home loans  

SECTION 133AB   WHAT IS A KEY FACTS SHEET FOR A STANDARD HOME LOAN?  

133AB(1)    
A Key Facts Sheet for a standard home loan is a document:

(a) that contains the information relating to the standard home loan that is required by the regulations; and

(b) that complies with any other requirements prescribed by the regulations.

133AB(2)    
Without limiting paragraph (1)(a), regulations made for the purpose of that paragraph:

(a) may require a Key Facts Sheet for a standard home loan to contain information:

(i) that is specific to the consumer by whom the Key Facts Sheet is to be generated under section 133AC or to whom it is to be provided under section 133AD ; and

(ii) that relates to the cost or implications of the loan for the consumer; and

(b) may require information contained in a Key Facts Sheet for a standard home loan to be based on either or both of the following:

(i) information provided by the consumer;

(ii) particular assumptions.