Document ID: chunk:federal_register_of_legislation:C2012A00130:clause:1_7
Version: federal_register_of_legislation:C2012A00130
Segment Type: clause
Provision Reference: sch 1 cl 7
Character Range: 15409–15982

7  Subsection 94(1) of the National Credit Code
Repeal the subsection, substitute:

Postponement request
 (1) A debtor, mortgagor or guarantor who has been given a default notice under section 88 or a demand for payment under section 90 may, at any time before the end of the period specified in the notice or demand, request (a postponement request), orally or in writing, that the credit provider negotiate a postponement of:
 (a) the enforcement proceedings; or
 (b) any action taken under such proceedings; or
 (c) the operation of any applicable acceleration clause.