Victorian Consolidated Legislation

Motor Car Traders Act 1986 - SECT 49

Notification of Director by credit provider

49. Notification of Director by credit provider

A financier who is a credit provider within the meaning of the Credit Act 1984
or the Consumer Credit (Victoria) Code-

   (a)  whose ordinary business includes the provision of credit to persons
        who the financier knows or ought reasonably to know require the credit
        for the purpose of acquiring motor cars from motor car traders; and

   (b)  who, in the course of carrying on the business, becomes aware of any
        contravention or proposed contravention of section 48 by a motor car
        trader-

must notify the Director in writing of the contravention or proposed
contravention within 7 days of becoming so aware. Penalty: 10 penalty units.