National Consumer Credit Protection Amendment (Low Cost Credit) Regulations 2025 (F2025L00303)

Schedule 1   Amendments

Part 1   Main amendments

National Consumer Credit Protection Regulations 2010

17   At the end of regulation 85

Add:

(2) For subsection 87(3) of the Code, the information that a first default in payment notice given in the circumstances mentioned in subsection 87(1A) of the Code must contain is set out in the following paragraphs:

(a) that there has been a default in payment of an amount under the low cost credit contract;

(b) how to arrange for payment of the amount;

(c) the credit provider's internal dispute resolution procedures and financial hardship processes;

(d) the external dispute resolution procedures available with AFCA.