Document ID: chunk:federal_register_of_legislation:F2024C00882:reg:28m
Version: federal_register_of_legislation:F2024C00882
Segment Type: reg
Provision Reference: reg 28M
Character Range: 204431–205656

28M  Modifications

Disclosure requirements
 (1) For paragraph 164(d) of the Act, the provisions to which Part 3‑7 of Chapter 3 of the Act applies, apply as if the provisions were modified as set out in Schedule 4.

Extended time period for consumer assessment
 (2) Subregulation (3) applies to a licensee to whom the rights of a credit provider under a credit contract have been assigned.
 (3) For paragraph 164(d) of the Act:
 (a) paragraph 132(2)(c) of the Act is modified by omitting '7 business days' and inserting '15 business days'; and
 (b) paragraph 132(2)(d) is modified by omitting '21 business days' and inserting '25 business days'.
 (4) Subregulation (5) applies to a licensee to whom the rights of a lessor under a consumer lease have been assigned.
 (5) For paragraph 164(d) of the Act:
 (a) paragraph 155(2)(c) of the Act is modified by omitting '7 business days' and inserting '15 business days'; and
 (b) paragraph 155(2)(d) is modified by omitting '21 business days' and inserting '25 business days'.
Note: Paragraph 164(d) of the Act provides that the regulations may provide that Chapter 3 of the Act applies as if specified provisions were omitted, modified or varied as specified in the regulations.