National Consumer Credit Protection Act 2009
SCHEDULE 1
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NATIONAL CREDIT CODE
If it appears to the court that a person other than a credit provider or a mortgagee (a third party ) has shared in the profits of, or has a beneficial interest prospectively or otherwise in, a credit contract or mortgage that the court holds to be unjust, the court may make an order about the third party that the court considers appropriate.
81(2)
However, before making an order about the third party, the court must:
(a) join the third party as a party to the proceedings; and
(b) give the third party an opportunity to appear and be heard in the proceedings.
Note:
See section 3 of the National Credit Act.
PART 4 - CHANGES TO OBLIGATIONS UNDER CREDIT CONTRACTS, MORTGAGES AND GUARANTEES Division 3 - Changes on grounds of hardship and unjust transactions 81 Joinder of parties 81(1)If it appears to the court that a person other than a credit provider or a mortgagee (a third party ) has shared in the profits of, or has a beneficial interest prospectively or otherwise in, a credit contract or mortgage that the court holds to be unjust, the court may make an order about the third party that the court considers appropriate.
81(2)
However, before making an order about the third party, the court must:
(a) join the third party as a party to the proceedings; and
(b) give the third party an opportunity to appear and be heard in the proceedings.
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