NATIONAL CONSUMER CREDIT PROTECTION ACT 2009 - SECT 10 Assignees of credit providers, lessors, mortgagees and beneficiaries of a guarantee

NATIONAL CONSUMER CREDIT PROTECTION ACT 2009 - SECT 10

  (1)   For the purposes of this Act (other than the National Credit Code), a person is a credit provider, lessor, mortgagee or beneficiary of a guarantee whether the person is:

  (a)   the original credit provider, lessor, mortgagee or beneficiary of a guarantee under a credit contract, consumer lease, mortgage or guarantee; or

  (b)   a person to whom the rights of a credit provider, lessor, mortgagee or beneficiary of a guarantee under a credit contract, consumer lease, mortgage or guarantee have been assigned or passed by law.

Note:   For example, a person who is assigned the rights of a credit provider under a credit contract would engage in a credit activity within the meaning of paragraph   (a) of item   1 of the table in subsection   6(1).

  (2)   For the purposes of paragraph   (1)(b), it does not matter whether an assignment or passing by law of rights is the first or a subsequent assignment or passing by law of those rights.