Victorian Consolidated Legislation

Credit Act 1984 - SECT 29

Notice of rescission etc. to linked credit provider

29. Notice of rescission etc. to linked credit provider

A supplier who becomes aware that a contract of sale by him is rescinded or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. Penalty: 10 penalty units. _______________