Sch 1 (National Credit Code), s 56
In forceDisclosure
Volume 1Chapters 1 to 6 (sections 1 to 322)
Chapter 6Compliance and enforcement
Part 6-2Examination of persons
Division 1Introduction
56 Disclosure
(1)
Before a guarantee is signed by the guarantor, the credit provider must give to the prospective guarantor:
(a)
a copy of the contract document of the credit contract or proposed credit contract; and
(b)
a document in the form prescribed by the regulations explaining the rights and obligations of a guarantor.
(2)
A guarantee is not enforceable unless paragraph (1)(a) is complied with.
Research tools for this sectionSubscription
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.