Consumer Credit Legislation Amendment (Enhancements) Act 2012 (130 of 2012)
Schedule 5 Consumer leases
National Consumer Credit Protection Act 2009
29 Subsection 204(1) of the National Credit Code
Insert:
direct debit , in relation to the payment of an amount, means the debiting of an amount against an account with a financial institution that is processed through the Bulk Electronic Clearing System, as specified and authorised in writing by:
(a) in relation to the payment by a debtor of an amount for a credit contract - the debtor; and
(b) in relation to the payment by a lessee of an amount for a consumer lease - the lessee.
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).
