Commonwealth Consolidated Acts

NATIONAL CONSUMER CREDIT PROTECTION ACT 2009 - SECT 127

Requirement to give credit guide

  (1)   A licensee must, as soon as practicable after it has been assigned any rights or obligations of a credit provider under a credit contract, give the debtor under the contract the licensee's credit guide in accordance with subsection   (2).

Civil penalty:   5,000 penalty units.

  (2)   The licensee's credit guide must:

  (a)   be in writing; and

  (b)   be in the form (if any) prescribed by the regulations; and

  (c)   specify the licensee's name and contact details; and

  (d)   specify the licensee's Australian credit licence number; and

  (e)   give information about the licensee's procedure for resolving disputes with a consumer, including contact details for a consumer to access:

  (i)   the licensee's internal dispute resolution procedure; and

  (ii)   the AFCA scheme; and

  (f)   comply with any other requirements prescribed by the regulations.

  (3)   The regulations may prescribe information that need not be included in the credit guide, despite subsection   (2).

Manner of giving credit guide

  (4)   The licensee must give the consumer the licensee's credit guide in the manner (if any) prescribed by the regulations.

Strict liability offence

  (5)   A person commits an offence if:

  (a)   the person is subject to a requirement under subsection   (1); and

  (b)   the person engages in conduct; and

  (c)   the conduct contravenes the requirement.

Criminal penalty:   50 penalty units.

  (6)   Subsection   (5) is an offence of strict liability.

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