National Consumer Credit Protection Act 2009
SCHEDULE 1
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NATIONAL CREDIT CODE
Before a guarantee is signed by the guarantor, the credit provider must give to the prospective guarantor:
(a) a copy of the contract document of the credit contract or proposed credit contract; and
(b) a document in the form prescribed by the regulations explaining the rights and obligations of a guarantor.
56(2)
A guarantee is not enforceable unless paragraph (1)(a) is complied with.
Note:
See section 3 of the National Credit Act.
PART 3 - RELATED MORTGAGES AND GUARANTEES Division 2 - Guarantees 56 Disclosure 56(1)Before a guarantee is signed by the guarantor, the credit provider must give to the prospective guarantor:
(a) a copy of the contract document of the credit contract or proposed credit contract; and
(b) a document in the form prescribed by the regulations explaining the rights and obligations of a guarantor.
56(2)
A guarantee is not enforceable unless paragraph (1)(a) is complied with.
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