National Consumer Credit Protection Act 2009

For the purpose of applying subsection 133AD(2) or (3) to a failure by a licensee to provide a consumer with a Key Facts Sheet (the new Key Facts Sheet) for a standard home loan, it is a defence if:

the following conditions are satisfied:

the licensee has previously provided the consumer with a Key Facts Sheet (the previous Key Facts Sheet) for the standard home loan;

the new Key Facts Sheet would be the same (except for its date) as the previous Key Facts Sheet; or

the licensee reasonably believes that:

another person has previously provided the consumer with a Key Facts Sheet (the previous Key Facts Sheet) for the standard home loan; and

the new Key Facts Sheet would be the same (except for its date) as the previous Key Facts Sheet; or

the licensee reasonably believes that the consumer would not be eligible for the standard home loan; or

under regulations made for the purpose of subsection (2), the licensee is not required to provide the consumer with the new Key Facts Sheet.

For the purpose of subsection 133AD(3), a defendant bears an evidential burden in relation to the matters in this subsection (see subsection 13.3(3) of the Criminal Code).

The regulations may prescribe circumstances in which a licensee is not required to provide a consumer with a Key Facts Sheet for a standard home loan.