Document ID: chunk:federal_register_of_legislation:C2012A00130:clause:2_5
Version: federal_register_of_legislation:C2012A00130
Segment Type: clause
Provision Reference: sch 2 cl 5
Character Range: 42469–42971

5  Subsection 204(1) of the National Credit Code
Insert:
bridging finance contract: a credit contract is a bridging finance contract if:
 (a) when the contract is made, the debtor:
 (i) reasonably expects to receive a lump sum before the term of the contract ends; and
 (ii) intends to discharge the debtor's obligations under the contract so far as possible with that sum; and
 (aa) the term of the contract is 2 years or less; and
 (b) the conditions (if any) prescribed by the regulations are met.