National Consumer Credit Protection Act 2009

CHAPTER 3 - RESPONSIBLE LENDING CONDUCT  

PART 3-4 - LICENSEES THAT ARE LESSORS UNDER CONSUMER LEASES  

Division 5 - Special rules for consumer leases for household goods  

SECTION 156A   LICENSEE WHO MAKES REPRESENTATIONS ABOUT CONSUMER LEASES FOR HOUSEHOLD GOODS MUST DISPLAY AND GIVE INFORMATION  

Requirement

156A(1)    
If a licensee represents that the licensee enters into, or is able to enter into, consumer leases for household goods with consumers under which the licensee would be the lessor, the licensee must:

(a)    display information; and

(b)    give information to consumers;

in accordance with any determination made be ASIC under subsection (2) .

Civil penalty: 5,000 penalty units.

156A(2)    
ASIC may, by legislative instrument, determine one or more of the following matters relating to licensees that make representations described in subsection (1) :

(a)    the information that the licensees must display;

(b)    how the licensees must display the information;

(c)    when the licensees must display the information;

(d)    the information that the licensees must give to consumers;

(e)    how the licensees must give the information to consumers;

(f)    when the licensees must give the information to consumers.

Offence

156A(3)    
A person commits an offence if:

(a)    the person is subject to a requirement under subsection (1) ; and

(b)    the person engages in conduct; and

(c)    the conduct contravenes the requirement

Criminal penalty: 50 penalty units.