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 133AF   DEFENCES TO OBLIGATION TO PROVIDE A KEY FACTS SHEET  

133AF(1)    
For the purpose of applying subsection 133AD(2) or (3) to a failure by a licensee to provide a consumer with a Key Facts Sheet (the new Key Facts Sheet ) for a standard home loan, it is a defence if:

(a) the following conditions are satisfied:

(i) the licensee has previously provided the consumer with a Key Facts Sheet (the previous Key Facts Sheet ) for the standard home loan;

(ii) the new Key Facts Sheet would be the same (except for its date) as the previous Key Facts Sheet; or

(b) the licensee reasonably believes that:

(i) another person has previously provided the consumer with a Key Facts Sheet (the previous Key Facts Sheet ) for the standard home loan; and

(ii) the new Key Facts Sheet would be the same (except for its date) as the previous Key Facts Sheet; or

(c) the licensee reasonably believes that the consumer would not be eligible for the standard home loan; or

(d) under regulations made for the purpose of subsection (2), the licensee is not required to provide the consumer with the new Key Facts Sheet.

Note:

For the purpose of subsection 133AD(3) , a defendant bears an evidential burden in relation to the matters in this subsection (see subsection 13.3(3) of the Criminal Code ).

133AF(2)    
The regulations may prescribe circumstances in which a licensee is not required to provide a consumer with a Key Facts Sheet for a standard home loan.