National Consumer Credit Protection Act 2009

SCHEDULE 1 - NATIONAL CREDIT CODE  

Note:

See section 3 of the National Credit Act.

PART 5 - ENDING AND ENFORCING CREDIT CONTRACTS, MORTGAGES AND GUARANTEES  

Division 1 - Ending of credit contract by debtor etc.  

Subdivision C - Notice of first direct debit default  

87   One-off notice to be given the first time a direct debit default occurs  

87(1)    
This section applies if:

(a) a debtor authorises payment of an amount for a credit contract by direct debit; and

(b) default occurs; and

(c) it is the first occasion the default occurs.

87(2)    

The credit provider must give the debtor, and any guarantor, a notice, complying with this section, within 14 days of the default occurring.

Criminal penalty: 50 penalty units.

87(3)    

The notice must contain the information prescribed under the regulations.

87(4)    
Subsection (2) is an offence of strict liability.

Note:

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

87(5)    
This section does not affect any other requirement under this Code to give a notice.

87(6)    
(Repealed by No 130 of 2012)