Notice of rescission etc. to linked credit provider

In force

A supplier who becomes aware that a contract of sale by him is rescinded or discharged, being a contract of sale in respect of which the supplier knows a linked credit provider of the supplier has—

(a)

entered into a tied loan contract with the buyer; or

(b)

entered an amount in an account of the buyer kept by him under a tied continuing credit contract in relation to the contract of sale—

shall forthwith give notice of the rescission or discharge to the linked credit provider.

10 penalty units.

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29 Notice of rescission etc. to linked credit provider