National Consumer Credit Protection Act 2009

SCHEDULE 1 - NATIONAL CREDIT CODE  

Note:

PART 2 - CREDIT CONTRACTS  

Division 1 - Negotiating and making credit contracts  

14   Credit contract to be in form of written contract document  

14(1)    
A credit contract must be in the form of:

(a) a written contract document signed by the debtor and the credit provider; or

(b) a written contract document signed by the credit provider and constituting an offer to the debtor that is accepted by the debtor in accordance with the terms of the offer.

14(2)    
An offer may be accepted by the debtor for the purposes of paragraph (1)(b):

(a) by the debtor or a person authorised by the debtor accessing or drawing down credit to incur a liability; or

(b) by any other act of the debtor or of any such authorised person that satisfies the conditions of the offer and constitutes an acceptance of the offer at law.

14(3)    
The credit provider, or a person associated with the credit provider, may not be authorised by the debtor for the purposes of subsection (2). However, this subsection does not prevent the debtor authorising the credit provider to debit the debtor ' s account.

14(4)    
In the case of a contract document consisting of more than one document, it is sufficient compliance with this section if one of the documents is duly signed and the other documents are referred to in the signed document.