Financial Sector Reform Act 2022 (87 of 2022)

Schedule 4   Consumer credit reforms

Part 2   Consumer leases

National Consumer Credit Protection Act 2009

29   Subsections 112(1) and (2) of the National Credit Code

Repeal the subsections, substitute:

(1) An application for an order under this Division may be made by:

(a) a party to a credit contract or consumer lease; or

(b) a guarantor in relation to a credit contract; or

(c) ASIC.

(2) A debtor, lessee or guarantor may not make an application for an order under this Division in respect of a contravention in connection with a contract or consumer lease if the contravention is or has been subject to an application for an order made by the credit provider, lessor or ASIC anywhere in Australia under this Code.