National Consumer Credit Protection Act 2009

SCHEDULE 1 - NATIONAL CREDIT CODE  

Note:

PART 3 - RELATED MORTGAGES AND GUARANTEES  

Division 1 - Mortgages  

46   Mortgages and continuing credit contracts  

46(1)    
A provision in a mortgage to the effect that goods supplied from time to time under a continuing credit contract are subject to the mortgage is void.

46(2)    
However, this section does not apply to a provision in a mortgage relating to specified goods securing payment of a debt under a continuing credit contract.