National Consumer Credit Protection Act 2009
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Hide history noteWhen this section applies
133DC(1)
This section applies if a licensee:
(a) is:
(i) a person who provides, or holds himself or herself out as able to provide, credit assistance relating to credit contracts for reverse mortgages; or
(ii) a credit provider under one or more credit contracts for a reverse mortgages; and
(b) has a website that provides information about such contracts.
Requirement
133DC(2)
The licensee must make available through the website a reverse mortgage information statement.
Civil penalty: 5,000 penalty units.
Offence
133DC(3)
A person commits an offence if:
(a) the person is subject to a requirement under subsection (2); and
(b) the person engages in conduct; and
(c) the person ' s conduct breaches the requirement.
Criminal penalty: 50 penalty units.
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