National Consumer Credit Protection Act 2009
Note:
See section 3 of the National Credit Act.
PART 5 - ENDING AND ENFORCING CREDIT CONTRACTS, MORTGAGES AND GUARANTEES Division 1 - Ending of credit contract by debtor etc.
View history note
Hide history noteThis section applies if:
(a) a debtor authorises payment of an amount for a credit contract by direct debit; and
(b) default occurs; and
(c) it is the first occasion the default occurs.
87(2)
The credit provider must give the debtor, and any guarantor, a notice, complying with this section, within 14 days of the default occurring.
Criminal penalty: 50 penalty units.
87(3)
The notice must contain the information prescribed under the regulations.
87(4)
Subsection (2) is an offence of strict liability.
Note:
For strict liability, see section 6.1 of the Criminal Code .
87(5)
This section does not affect any other requirement under this Code to give a notice.
87(6)
(Repealed by No 130 of 2012)
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