Document ID: chunk:federal_register_of_legislation:C2024C00826:section:133dc
Version: federal_register_of_legislation:C2024C00826
Segment Type: section
Provision Reference: s 133DC
Character Range: 362990–363892

133DC  Making reverse mortgage information statement available on website of credit provider or credit assistance provider

When this section applies
 (1) This section applies if a licensee:
 (a) is:
 (i) a person who provides, or holds himself or herself out as able to provide, credit assistance relating to credit contracts for reverse mortgages; or
 (ii) a credit provider under one or more credit contracts for a reverse mortgages; and
 (b) has a website that provides information about such contracts.

Requirement
 (2) The licensee must make available through the website a reverse mortgage information statement.
Civil penalty: 5,000 penalty units.

Offence
 (3) A person commits an offence if:
 (a) the person is subject to a requirement under subsection (2); and
 (b) the person engages in conduct; and
 (c) the person's conduct breaches the requirement.
Criminal penalty: 50 penalty units.