Document ID: chunk:federal_register_of_legislation:F2024C00882:reg:25l
Version: federal_register_of_legislation:F2024C00882
Segment Type: reg
Provision Reference: reg 25L
Character Range: 144394–145188

25L  Modification—assignees of credit providers, lessors, mortgagees and beneficiaries of a guarantee
  For paragraph 164(d) of the Act, the provisions of the Act to which Part 3‑7 of the Act applies apply as if section 10 were modified by adding the following subsection after subsection 10(2):
 '(3) A person mentioned in paragraph (1)(b) is not a credit provider, lessor, mortgagee or beneficiary of a guarantee under a credit contract, consumer lease, mortgage or guarantee while the original credit provider, lessor, mortgagee or beneficiary of the guarantee under the credit contract, consumer lease, mortgage or guarantee continues to receive payments from the debtor, or would continue to do so if the debtor complied with the credit contract, consumer lease, mortgage or guarantee.'.