National Consumer Credit Protection Act 2009

This section applies if:

a licensee is:

a person who provides, or holds himself or herself out as able to provide, credit assistance relating to credit contracts for reverse mortgages; or

a credit provider under one or more credit contracts for reverse mortgages; and

either:

a consumer asks the licensee (otherwise than by using a website of the licensee) for a reverse mortgage information statement; or

the regulations require a consumer, in circumstances prescribed by the regulations, to be given a reverse mortgage information statement; and

the consumer gives the licensee the consumer’s name, and the contact details required by the regulations.

The licensee must, in accordance with any requirements prescribed by the regulations, give the consumer a reverse mortgage information statement.

A person commits an offence if:

the person is subject to a requirement under subsection (2); and

the person engages in conduct; and

the conduct contravenes the requirement.

For the purposes of subsections (2) and (3), it is a defence if:

the licensee has given the consumer, or reasonably believes that someone else has given the consumer, a reverse mortgage information statement; or

the licensee:

is a credit provider under one or more credit contracts for reverse mortgages; and

reasonably believes that the consumer would not be eligible to make a credit contract with the licensee for a reverse mortgage; or

there exist circumstances prescribed by regulations as circumstances in which the licensee is not required to give the consumer a reverse mortgage information statement.

For the purposes of subsection (3), a defendant bears an evidential burden in relation to the matter in subsection (4) (see subsection 13.3(3) of the Criminal Code).