National Consumer Credit Protection Act 2009

SCHEDULE 1 - NATIONAL CREDIT CODE  

Note:

See section 3 of the National Credit Act.

PART 4 - CHANGES TO OBLIGATIONS UNDER CREDIT CONTRACTS, MORTGAGES AND GUARANTEES  

Division 3 - Changes on grounds of hardship and unjust transactions  

79   Applications by ASIC  

79(1)    
This section applies if ASIC considers that it is in the public interest to make an application under this Division.

79(2)    
ASIC may make an application under this Division and has standing to represent the public interest.

79(3)    
The application:


(a) may apply to any one or more credit contracts; and


(b) may apply to all or any class of credit contracts entered into by a credit provider during a specified period (for example, all credit contracts entered into during a specified period that are affected by a specified matter for which relief is sought).

 

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