NATIONAL CONSUMER CREDIT PROTECTION ACT 2009 - SECT 266 Notice to produce books about credit activities or credit reporting

NATIONAL CONSUMER CREDIT PROTECTION ACT 2009 - SECT 266

  (1)   ASIC may give to:

  (a)   a person who engages in a credit activity (either alone or together with any other person or persons); or

  (b)   a person who ASIC, on reasonable grounds, suspects has been a party to engaging in a credit activity; or

  (c)   a representative, banker, lawyer or auditor of a person referred to in paragraph   (a) or (b);

a written notice requiring the production to a specified ASIC member or ASIC staff member, at a specified place and time, of specified books relating to:

  (d)   a credit activity engaged in by a person; or

  (e)   the character or financial situation of, or a business carried on by, a person who engages, or has engaged, in a credit activity.

Note:   Failure to comply with a requirement made under this subsection is an offence (see section   290).

  (2)   ASIC may give to:

  (a)   a Part   3 - 2CA body that is, or has been, subject to a requirement under Part   3 - 2CA (other than Division   4), either alone or together with any other person or persons; or

  (b)   a representative, banker, lawyer or auditor of a person referred to in paragraph   (a);

a written notice requiring the production to a specified ASIC member or ASIC staff member, at a specified place and time, of specified books relating to:

  (c)   information, or a statement, to which that requirement relates; or

  (d)   the character or financial situation of, or a business carried on by, a person who is, or has been, subject to that requirement.

Note 1:   Part   3 - 2CA is about mandatory comprehensive credit reporting.

Note 2:   Failure to comply with a requirement made under this subsection is an offence (see section   290).