108
In forceProceedings prohibited where breach remedied
Part VTermination and enforcement of regulated contracts and regulated mortgages
108 Proceedings prohibited where breach remedied
Where a credit provider or a mortgagee serves a notice referred to in section 107 on a debtor in relation to a regulated contract or on a mortgagor in relation to a regulated mortgage, and the notice is complied with in accordance with section 107(4), the credit provider or mortgagee shall not, in relation to the default specified in the notice, institute proceedings or exercise or purport to exercise a right under the contract or mortgage or under a contract of guarantee that relates to the contract.
- 20 penalty units.
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