NATIONAL CONSUMER CREDIT PROTECTION ACT 2009 - SECT 151 Obligation to assess unsuitability

NATIONAL CONSUMER CREDIT PROTECTION ACT 2009 - SECT 151

    A licensee must not:

  (a)   enter a consumer lease with a consumer who will be the lessee under the lease; or

  (b)   make an unconditional representation to a consumer that the licensee considers that the consumer is eligible to enter a consumer lease with the licensee;

on a day (the lease day ) unless the licensee has, within 90 days (or other period prescribed by the regulations) before the lease day:

  (c)   made an assessment that:

  (i)   is in accordance with section   152; and

  (ii)   covers a period in which the lease day occurs; and

  (d)   made the inquiries and verification in accordance with section   153.

Civil penalty:   5,000 penalty units.