Document ID: chunk:federal_register_of_legislation:F2024C00882:reg:79c
Version: federal_register_of_legislation:F2024C00882
Segment Type: reg
Provision Reference: reg 79C
Character Range: 345098–345933

79C  Default in payment by direct debit under small amount credit contract
 (1) For subsection 39C(1) of the Code, the credit provider must refrain from seeking a repayment due under a small amount credit contract by relying on a direct debit request if:
 (a) the credit provider has twice sought to obtain the repayment using the direct debit request; and
 (b) the credit provider:
 (i) has not told the debtor that the direct debit requests have been unsuccessful; or
 (ii) has not made reasonable attempts to contact the debtor.
 (2) If the credit provider receives the repayment to which subregulation (1) relates:
 (a) subregulation (1) ceases to apply; and
 (b) the credit provider may seek repayments due under the small amount credit contract by relying on a direct debit request.

Part 7‑3—Related mortgages and guarantees