National Consumer Credit Protection Act 2009

An acceleration clause of a consumer lease is to operate only if:

the lessee is in default under the lease; and

the lessor has given to the lessee a default notice under section 179D; and

the default notice contains an additional statement of:

the manner in which the liabilities of the lessee under the consumer lease would be affected by the operation of the acceleration clause; and

the amount required to terminate the lease (as accelerated); and

the default has not been remedied within the period specified in the default notice (unless the lessor reasonably believes that the default is not capable of being remedied).

However, a lessor is not required to give a default notice under section 179D or to wait until the period specified in the default notice has elapsed before bringing an acceleration clause into operation, if:

the lessor reasonably believes that it was induced by fraud on the part of the lessee to enter into the consumer lease; or

the lessor has made reasonable attempts to locate the lessee but without success; or

the court authorises the lessor not to do so; or

the lessor reasonably believes that the lessee has removed or disposed of goods hired under a consumer lease, or intends to remove or dispose of goods hired under the lease, or that urgent action is necessary to protect the goods.