Document ID: chunk:federal_register_of_legislation:C2024C00826:clause:1_14
Version: federal_register_of_legislation:C2024C00826
Segment Type: clause
Provision Reference: sch 1 cl 14
Character Range: 765569–766788

14  Credit contract to be in form of written contract document
 (1) A credit contract must be in the form of:
 (a) a written contract document signed by the debtor and the credit provider; or
 (b) a written contract document signed by the credit provider and constituting an offer to the debtor that is accepted by the debtor in accordance with the terms of the offer.
 (2) An offer may be accepted by the debtor for the purposes of paragraph (1)(b):
 (a) by the debtor or a person authorised by the debtor accessing or drawing down credit to incur a liability; or
 (b) by any other act of the debtor or of any such authorised person that satisfies the conditions of the offer and constitutes an acceptance of the offer at law.
 (3) The credit provider, or a person associated with the credit provider, may not be authorised by the debtor for the purposes of subsection (2). However, this subsection does not prevent the debtor authorising the credit provider to debit the debtor's account.
 (4) In the case of a contract document consisting of more than one document, it is sufficient compliance with this section if one of the documents is duly signed and the other documents are referred to in the signed document.