Consumer Credit Legislation Amendment (Enhancements) Act 2012 (130 of 2012)

Schedule 1   Enhancements

Part 1   Protection of debtor in cases of hardship

National Consumer Credit Protection Act 2009

7   Subsection 94(1) of the National Credit Code

Repeal the subsection, substitute:

Postponement request

(1) A debtor, mortgagor or guarantor who has been given a default notice under section 88 or a demand for payment under section 90 may, at any time before the end of the period specified in the notice or demand, request (a postponement request ), orally or in writing, that the credit provider negotiate a postponement of:

(a) the enforcement proceedings; or

(b) any action taken under such proceedings; or

(c) the operation of any applicable acceleration clause.