Sch 1 (National Credit Code), s 84
In forceCourt may determine pay out figure if credit provider does not provide a pay out figure
Volume 1Chapters 1 to 6 (sections 1 to 322)
Chapter 6Compliance and enforcement
Part 6-3ASearch warrants
Division 2Extra application of Crimes Act search warrant provisions
Subdivision ABasic extra application
84 Court may determine pay out figure if credit provider does not provide a pay out figure
(1)
If the credit provider does not provide a statement of the amount required to pay out a credit contract (other than a continuing credit contract) in accordance with this Part after a request is duly made by a debtor or guarantor, the court may, on the application of the debtor or guarantor, determine the amount payable on the date of determination, the amount by which it increases daily and the period for which the determination is applicable.
(2)
The credit contract is discharged if an amount calculated in accordance with the determination is tendered to the credit provider within the applicable period.
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