Sch 1 (National Credit Code), s 39C
In forceCredit provider must do prescribed things if a default in payment by direct debit occurs
Volume 1Chapters 1 to 6 (sections 1 to 322)
Schedule 1National Credit Code
Part 5-5Other administrative matters
Division 2Other administrative matters
39C Credit provider must do prescribed things if a default in payment by direct debit occurs
If:
(a)
the amount of repayments under a small amount credit contract are to be paid by way of direct debit; and
(b)
the direct debit has been authorised by the debtor; and
(c)
a default in the payment of an amount of a repayment occurs;
the credit provider must do the things prescribed by the regulations.
Criminal penalty: 50 penalty units.
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