Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A licensee must not provide credit assistance to a consumer on a day (the assistance day ) by:
(a) suggesting that the consumer apply for a particular consumer lease with a particular lessor; or
(b) assisting the consumer to apply for a particular consumer lease with a particular lessor;
unless the licensee has, within 90 days (or other period prescribed by the regulations) before the assistance day:
(c) made a preliminary assessment that:
(i) is in accordance with subsection 139(1); and
(ii) covers the period proposed for the entering of the lease; and
(d) made the inquiries and verification in accordance with section 140.
Civil penalty: 5,000 penalty units.
(2) A licensee must not provide credit assistance to a consumer on a day (the assistance day ) by suggesting that the consumer remain in a particular consumer lease with a particular lessor unless the licensee has, within 90 days (or other period prescribed by the regulations) before the assistance day:
(a) made a preliminary assessment that:
(i) is in accordance with subsection 139(2); and
(ii) covers a period in which the assistance day occurs; and
(b) made the inquiries and verification in accordance with section 140.
Civil penalty: 5,000 penalty units.