National Consumer Credit Protection Act 2009
SCHEDULE 1
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NATIONAL CREDIT CODE
If the rights of a debtor, mortgagor or guarantor under a credit contract, mortgage or guarantee are assigned or pass by law to another person, this Code from then on applies to that other person and does not confer any further rights on the debtor, mortgagor or guarantor.
189(2)
Subsection (1) does not apply if the rights are assigned or pass by law to a corporation which is neither a trustee for the debtor, mortgagor or guarantor nor an executor of the debtor ' s, mortgagor ' s or guarantor ' s estate.
189(3)
Subsection (1) does not affect a requirement which is made of a debtor or mortgagor under section 52.
Note:
See section 3 of the National Credit Act.
PART 12 - MISCELLANEOUS Division 3 - General provisions 189 Assignment by debtor, mortgagor or guarantor 189(1)If the rights of a debtor, mortgagor or guarantor under a credit contract, mortgage or guarantee are assigned or pass by law to another person, this Code from then on applies to that other person and does not confer any further rights on the debtor, mortgagor or guarantor.
189(2)
Subsection (1) does not apply if the rights are assigned or pass by law to a corporation which is neither a trustee for the debtor, mortgagor or guarantor nor an executor of the debtor ' s, mortgagor ' s or guarantor ' s estate.
189(3)
Subsection (1) does not affect a requirement which is made of a debtor or mortgagor under section 52.
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