National Consumer Credit Protection Act 2009

SCHEDULE 1 - NATIONAL CREDIT CODE  

Note:

See section 3 of the National Credit Act.

PART 11 - CONSUMER LEASES  

Division 2 - Form of and information to be included in consumer leases  

174   Disclosures in consumer leases  

174(1)    
A consumer lease must contain the following matters, if ascertainable:

(a) a description or identification of the goods hired under the lease;

(b) the amount or value of any consideration to be paid or provided by the lessee before the delivery of those goods;

(c) the amount of any stamp duty or other government charge (other than on receipts or withdrawals) payable by the lessee in respect of the lease;

(d) the amount of any other charges not included in the rental payable under the lease, and a description of those charges;

(e) the amount of each rental payment to be made by the lessee under the lease, the date on which the first rental payment is due and either the dates on which subsequent rental payments are due or the interval between rental payments;

(f) the number of rental payments to be made by the lessee, and the total amount of rental payable under the lease;

(g) a statement of the conditions on which the lessee may terminate the lease;

(h) a statement of the liabilities (if any) of the lessee on termination of the lease.

174(1A)    

A consumer lease for household goods must also contain:

(a)    the base price of the goods hired under the consumer lease; and

(b)    the difference between:

(i) the base price of the goods hired under the lease; and

(ii) the total amount payable by the lessee in connection with the lease (including any applicable taxes and any add-on fees, but not including an amount described in subsection 175AA(4) ); and

(c)    any other information required by the regulations.

Note:

A penalty may be imposed for contravention of a key requirement in this subsection: see Part 6 .

174(2)    
A consumer lease is taken to comply with this section despite any omission or other error if the court is satisfied that the omission or error is not of such a nature as to mislead the lessee to his or her disadvantage.

174(3)    

A lessor must not enter into a consumer lease that contravenes a requirement of this section.

Civil penalty: 5,000 penalty units.

174(4)    

A lessor commits an offence of strict liability if the lessor enters into a consumer lease that contravenes a requirement of this section.

Criminal penalty: 100 penalty units.