Treasury Laws Amendment (Modernising Business Communications and Other Measures) Act 2023 (69 of 2023)

Schedule 3   Rationalisation of ending ASIC instruments

Part 5   Notice requirements in the hardship provisions of the National Credit Code

Division 1   Amendments

National Consumer Credit Protection Act 2009

36   After subsection 73(1) of the National Credit Code

Insert:

(1A) Subsection (1) does not apply if the credit provider and the debtor agree to a change to the credit contract that defers or otherwise reduces the obligations of the debtor under that contract for a period not exceeding 90 days.