National Consumer Credit Protection Act 2009

SCHEDULE 1 - NATIONAL CREDIT CODE  

Note:

PART 12 - MISCELLANEOUS  

Division 2 - Documentary provisions  

184   Legibility and language  

184(1)    
A credit contract, mortgage or guarantee or a notice given by a credit provider under this Code, other than a document transmitted by electronic communication:

(a) must be easily legible; and

(b) to the extent that it is printed or typed must conform with the provisions of the regulations as to print or type; and

(c) must be clearly expressed.

184(2)    
A credit contract, mortgage or guarantee or a notice given by a credit provider under this Code, if transmitted by electronic communication:

(a) must be easily legible; and

(b) must conform with the provisions of the regulations, if any, as to content, legibility and accompanying information; and

(c) must be clearly expressed.

184(3)    
If the court is satisfied, on application by ASIC, that a provision of a credit contract, mortgage or guarantee or a notice given by a credit provider under this Code does not comply with the requirements of this section, it may prohibit the credit provider from using a provision in the same or similar terms in future credit contracts, mortgages or guarantees or notices.

184(4)    
A credit provider that contravenes a prohibition imposed under subsection (3) commits an offence.

Criminal penalty (subsection (4)): 100 penalty units.