Document ID: chunk:federal_register_of_legislation:C2024C00826:clause:1_88:p3
Version: federal_register_of_legislation:C2024C00826
Segment Type: clause
Provision Reference: sch 1 cl 88 (pt 3/3)
Character Range: 891863–894158

(d) the credit provider reasonably believes that the debtor or mortgagor has removed or disposed of mortgaged goods under a mortgage related to the credit contract or under the mortgage concerned, or intends to remove or dispose of mortgaged goods, without the credit provider's permission or that urgent action is necessary to protect the mortgaged property.

Non‑remedial default
 (6) If the credit provider reasonably believes that a default is not capable of being remedied:
 (a) the default notice need only specify the default; and
 (b) the credit provider may begin the enforcement proceedings after the period of 30 days from the date of the notice.
 (7) Subsections (1) and (2) are offences of strict liability.
Note: For strict liability, see section 6.1 of the Criminal Code.

Some defaults are not a basis for a default notice
 (7A) So far as a notice purporting to be a default notice relates to an alleged default under a credit contract for a reverse mortgage that is an event described in subsection 18A(3), the notice is not a default notice for the purposes of any of the following provisions:
 (a) subsections (1) and (2) of this section;
 (b) section 93.
Note: This has the effect that:
(a) if the credit provider begins enforcement proceedings relating to the alleged default the credit provider will contravene subsection (1) or (2) of this section (unless subsection (5) of this section applies); and
(b) section 93 will affect the operation of an acceleration clause on the basis of the alleged default.
 (7B) To avoid doubt, subsection (7A) does not affect the status of the notice as a default notice for the purposes of section 89, 94 or 95.

Other law about mortgages not affected
 (8) This section is in addition to any provision of any other law relating to the enforcement of real property or other mortgages and does not prevent the issue of notices to defaulting mortgagors under other legislation. Nothing in this section prevents a notice to a defaulting mortgagor under other legislation being issued at the same time, or in the same document, as the default notice under this section.
Note: By virtue of subsection 183(2), a notice may contain information required to be given under other legislation or be included in a notice given under other legislation.