National Consumer Credit Protection Act 2009
View history note
Hide history noteIn considering whether a credit product has resulted in, or will or is likely to result in, significant detriment to consumers for the purposes of this Part, the following must be taken into account:
(a) the nature and extent of the detriment;
(b) without limiting paragraph (a), the actual or potential financial loss to consumers resulting from the product;
(c) the impact that the detriment has had, or will or is likely to have, on consumers;
(d) any other matter prescribed by regulations made for the purposes of this paragraph.
301E(2)
Subsection (1) does not limit the matters to be taken into account in considering whether a credit product has resulted in, or will or is likely to result in, significant detriment to consumers for the purposes of this Part.
301E(3)
A credit product may result in significant detriment to consumers even if a person has complied with the disclosure requirements in the National Credit Code in relation to the product.
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