Victorian Consolidated Legislation

Consumer Credit (Victoria) Act 1995 - SECT 37

Assignment of rights by credit provider

37. Assignment of rights by credit provider



(1) A credit provider must not assign the whole or any part of the credit
provider's rights as credit provider under a credit contract to a person other
than a registered credit provider or an exempt credit provider unless the
assignment-

   (a)  is an assignment made in good faith by way of security in respect of a
        liability incurred by the assignor; or

   (b)  is made with the consent of the Director or the Tribunal.

Penalty: 10 penalty units.

(2) Subsection (1) does not apply to or in respect of an assignment that
occurs by operation of law.

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