National Consumer Credit Protection Act 2009

CHAPTER 6 - COMPLIANCE AND ENFORCEMENT  

PART 6-7 - ASIC ' S POWERS IN RELATION TO CONTRAVENTIONS OF THIS CHAPTER  

Division 2 - ASIC ' s powers in relation to contraventions of this Chapter  

SECTION 300   ORDERS BY ASIC RELATING TO CREDIT CONTRACTS, MORTGAGES, GUARANTEES OR CONSUMER LEASES  

300(1)   [ ASIC powers]  

ASIC may make one or more of the following:

(a) an order restraining a specified person from assigning any interest in a credit contact, mortgage, guarantee or consumer lease;

(b) an order restraining a specified person from acquiring any interest in a credit contact, mortgage, guarantee or consumer lease;

(c) an order restraining the exercise of rights under a credit contract, mortgage, guarantee or consumer lease;

(d) an order directing a:

(i) credit provider under a credit contract; or

(ii) mortgagee under a mortgage; or

(iii) beneficiary of a guarantee under a guarantee; or

(iv) lessor under a consumer lease;

in relation to which an order under this section is in force to give written notice of that order to any person whom the credit provider, mortgagee, beneficiary or lessor knows to be entitled to exercise a right in relation to the credit contract, mortgage, guarantee or consumer lease.

300(2)   [ Strict liability]  

An offence under subsection 301(4) relating to subsection (1) of this section is an offence of strict liability.

Note:

For strict liability, see section 6.1 of the Criminal Code .

300(3)   [ Not a legislative instrument]  

An order made under subsection (1) is not a legislative instrument.