Treasury Laws Amendment (2023 Law Improvement Package No. 1) Act 2023 (76 of 2023)

Schedule 5   Rationalisation of ending ASIC instruments

Part 3   Precontractual statements and information statements

National Consumer Credit Protection Act 2009

32   At the end of section 16 of the National Credit Code

Add:

Alternative ways of giving statements to debtors

(8) The regulations may specify ways in which a credit provider may give a document to a debtor for the purposes of this section (without limiting the ways in which the credit provider may give the document to the debtor).

Mandatory requirements relating to giving statements to debtors

(9) The regulations may specify:

(a) the way in which a credit provider must give a document to a debtor for the purposes of this section; or

(b) a way in which a credit provider must not give a document to a debtor for the purposes of this section; or

(c) other requirements relating to a credit provider giving a document to a debtor for the purposes of this section.

(10) The giving of a document by a credit provider to a debtor for the purposes of this section is to be disregarded if:

(a) the giving of the document is not in the way (if any) specified for the purposes of paragraph (9)(a); or

(b) the giving of the document is in a way (if any) specified for the purposes of paragraph (9)(b); or

(c) any requirements specified for the purposes of paragraph (9)(c) in relation to the giving of the document are not satisfied.

(11) To avoid doubt, subsections (9) and (10) have effect despite section 187 (electronic transactions and documents).