Document ID: chunk:federal_register_of_legislation:C2024C00826:section:123:p2
Version: federal_register_of_legislation:C2024C00826
Segment Type: section
Provision Reference: s 123 (pt 2/2)
Character Range: 253329–254027

the credit assistance:
 (i) the licensee had reason to believe that the information was true; or
 (ii) the licensee would have had reason to believe that the information was true if the licensee had made the inquiries or verification under section 117.

Credit contract not unsuitable under regulations
 (5) The regulations may prescribe particular situations in which a credit contract is taken not to be unsuitable for a consumer, despite subsection (2).

Offence
 (6) A person commits an offence if:
 (a) the person is subject to a requirement under subsection (1); and
 (b) the person engages in conduct; and
 (c) the conduct contravenes the requirement.
Criminal penalty: 2 years imprisonment.