Document ID: chunk:federal_register_of_legislation:C2024C00826:section:138
Version: federal_register_of_legislation:C2024C00826
Segment Type: section
Provision Reference: s 138
Character Range: 375575–376924

138  Obligations of credit assistance providers before providing credit assistance for consumer leases
 (1) A licensee must not provide credit assistance to a consumer on a day (the assistance day) by:
 (a) suggesting that the consumer apply for a particular consumer lease with a particular lessor; or
 (b) assisting the consumer to apply for a particular consumer lease with a particular lessor;
unless the licensee has, within 90 days (or other period prescribed by the regulations) before the assistance day:
 (c) made a preliminary assessment that:
 (i) is in accordance with subsection 139(1); and
 (ii) covers the period proposed for the entering of the lease; and
 (d) made the inquiries and verification in accordance with section 140.
Civil penalty: 5,000 penalty units.
 (2) A licensee must not provide credit assistance to a consumer on a day (the assistance day) by suggesting that the consumer remain in a particular consumer lease with a particular lessor unless the licensee has, within 90 days (or other period prescribed by the regulations) before the assistance day:
 (a) made a preliminary assessment that:
 (i) is in accordance with subsection 139(2); and
 (ii) covers a period in which the assistance day occurs; and
 (b) made the inquiries and verification in accordance with section 140.
Civil penalty: 5,000 penalty units.