Sch 1 (National Credit Code), s 210
In forceMeaning of may and must etc
Volume 2Chapter 7 (sections 323 to 337), Schedule 1, Endnotes
Chapter 7Miscellaneous
Part 2Credit contracts
Division 2Debtor’s monetary obligations
210 Meaning of may and must etc
(1)
In this Code, the word may, or a similar word or expression, used in relation to a power indicates that the power may be exercised or not exercised, at discretion.
(2)
In this Code, the word must, or a similar word or expression, used in relation to a power indicates that the power is required to be exercised.
(3)
This section has effect despite any rule of construction to the contrary.
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