National Consumer Credit Protection Act 2009

CHAPTER 3 - RESPONSIBLE LENDING CONDUCT  

PART 3-2 - LICENSEES THAT ARE CREDIT PROVIDERS UNDER CREDIT CONTRACTS: GENERAL RULES  

Division 3 - Obligation to assess unsuitability  

SECTION 129  

129   ASSESSMENT OF UNSUITABILITY OF THE CREDIT CONTRACT  

For the purposes of paragraph 128(c) , the licensee must make an assessment that:

(a) specifies the period the assessment covers; and

(b) assesses whether the credit contract will be unsuitable for the consumer if the contract is entered or the credit limit is increased in that period.

Note:

The licensee is not required to make the assessment under this section if the contract is not entered or the credit limit is not increased.