Document ID: chunk:federal_register_of_legislation:C2024C00826:clause:1_87
Version: federal_register_of_legislation:C2024C00826
Segment Type: clause
Provision Reference: sch 1 cl 87
Character Range: 886086–886899

87  One‑off notice to be given the first time a direct debit default occurs
 (1) This section applies if:
 (a) a debtor authorises payment of an amount for a credit contract by direct debit; and
 (b) default occurs; and
 (c) it is the first occasion the default occurs.
 (2) The credit provider must give the debtor, and any guarantor, a notice, complying with this section, within 14 days of the default occurring.
Criminal penalty: 50 penalty units.
 (3) The notice must contain the information prescribed under the regulations.
 (4) Subsection (2) is an offence of strict liability.
Note: For strict liability, see section 6.1 of the Criminal Code.
 (5) This section does not affect any other requirement under this Code to give a notice.

Division 2—Enforcement of credit contracts, mortgages and guarantees