National Consumer Credit Protection Act 2009

SCHEDULE 1 - NATIONAL CREDIT CODE  

Note:

PART 1 - PRELIMINARY  

7   Mortgages to which this Code applies  

7(1)    
This Code applies to a mortgage if:

(a) it secures obligations under a credit contract or a related guarantee; and

(b) the mortgagor is a natural person or a strata corporation.

7(2)    
If any such mortgage also secures other obligations, this Code applies to the mortgage to the extent only that it secures obligations under the credit contract or related guarantee.

7(3)    
The regulations may exclude, from the application of all or any provisions of this Code, a mortgage of a class specified in the regulations.