Consumer Credit Legislation Amendment (Enhancements) Act 2012 (130 of 2012)

Schedule 1   Enhancements

Part 6   Miscellaneous amendments

National Consumer Credit Protection Act 2009

38   Division 6 of Part 2 of the National Credit Code

Repeal the Division, substitute:

Division 6 - Certain transactions not to be treated as new contracts

40 Changes etc. under contracts

If:

(a) there is:

(i) a change to an existing credit contract that results in further credit being provided; or

(ii) a deferral or waiver of an amount under an existing credit contract; or

(iii) a postponement relating to an existing credit contract; and

(b) the change, deferral, waiver or postponement is made in accordance with this Code or the existing credit contract;

then the change, deferral, waiver or postponement is not to be treated as creating a new credit contract for the purposes of this Code.