Queensland Consolidated Regulations

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CONSUMER CREDIT REGULATION 1995 - SECT 21

21 Explanation about guarantor's rights and obligations

(1) For the purposes of section 51(1)(b) of the Code, the information document is to be a written document in--

(a) before 1 December 1998--form 5 or 5A; or
(b) from 1 December 1998--form 5A.

(2) The information document may be in the form of a separate document or a part of the guarantee document.

Note--
Section 51(1)(b) of the Code requires a credit provider to give a prospective guarantor an explanation in the form required by the regulations of the guarantor's rights and obligations. The explanation must be given before the obligations under the relevant credit contract are secured by the guarantee.


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