National Consumer Credit Protection Act 2009

SCHEDULE 1 - NATIONAL CREDIT CODE  

Note:

See section 3 of the National Credit Act.

PART 8 - RELATED INSURANCE CONTRACTS  

146   Supply of copy of credit-related insurance contract by insurer  

146(1)    
If the premium under a credit-related insurance contract is financed under the credit contract, the insurer must ensure that a copy of the policy of insurance is given to the debtor within 14 days after acceptance of the insurance proposal by the insurer.

Criminal penalty: 100 penalty units.

146(2)    
In the case of any such contract of insurance entered into by the credit provider in which the debtor has a beneficial interest, the credit provider must ensure that a written notice containing particulars of the insurance prescribed by the regulations is given to the debtor within 14 days after the beneficial interest is acquired by the debtor.

Criminal penalty: 100 penalty units.

146(3)    
Subsections (1) and (2) do not apply to compulsory insurance.

146(4)    
Subsections (1) and (2) are offences of strict liability.

Note:

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