Victorian Consolidated Legislation

Consumer Credit (Victoria) Act 1995 - SECT 37R

Misrepresentation

37R. Misrepresentation

A finance broker must not-

   (a)  by a false, misleading or deceptive statement, representation or
        promise; or

   (b)  by any wilful concealment of a material fact-

induce or attempt to induce any person to enter into an agreement or contract
for or with respect to any consumer credit, or the provision of any consumer
credit. Penalty: In the case of a corporation- For a first offence, 30 penalty
units; For a subsequent offence, 60 penalty units. In any other case- For a
first offence, 30 penalty units or 3 months imprisonment; For a subsequent
offence, 60 penalty units or 6 months imprisonment.