Treasury Laws Amendment (Responsible Buy Now Pay Later and Other Measures) Act 2024 (138 of 2024)

Schedule 2   Buy now, pay later

Part 8   Default notices

National Consumer Credit Protection Act 2009

55   After subsection 87(1) of the National Credit Code

Insert:

(1A) This section also applies if:

(a) a debtor under a low cost credit contract is in default in relation to the payment of an amount under the contract; and

(b) it is the first occasion when the debtor is in default in relation to such a payment.

Offence