National Consumer Credit Protection Act 2009

SCHEDULE 1 - NATIONAL CREDIT CODE  

Note:

See section 3 of the National Credit Act.

PART 3 - RELATED MORTGAGES AND GUARANTEES  

Division 1 - Mortgages  

53   Offence for noncompliance  

53(1)    
A credit provider must not:


(a) enter into a mortgage that contravenes a requirement of this Division; or


(b) otherwise contravene a requirement of this Division.

Criminal penalty: 50 penalty units.


53(2)    
A credit provider must not enter into a mortgage that is void or unenforceable, or that includes a provision that is void or unenforceable, because of this Division.

Criminal penalty: 50 penalty units.


53(3)    
Subsections (1) and (2) are offences of strict liability.

Note:

For strict liability, see section 6.1 of the Criminal Code .

 

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