s 129
In forceAssessment of unsuitability of the credit contract
Volume 1Chapters 1 to 6 (sections 1 to 322)
Chapter 2Licensing of persons who engage in credit activities
Part 2-5Financial records, trust accounts and audit reports
Division 2Financial records of licensees
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.
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