AUSTRALIAN CONSUMER LAW AND FAIR TRADING ACT 2012 (NO. 21 OF 2012) - SECT 53 Offence to purchase debt for the purpose of collection
AUSTRALIAN CONSUMER LAW AND FAIR TRADING ACT 2012 (NO. 21 OF 2012) - SECT 53
Offence to purchase debt for the purpose of collectionA prohibited person must not knowingly purchase, or accept an assignment of, a consumer debt from a creditor for the purpose of collecting that debt.
Penalty: 240 penalty units or 2 years imprisonment, in the case of a natural person;
1200 penalty units, in the case of a body corporate.
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