Document ID: chunk:federal_register_of_legislation:F2024L01251:clause:2_8a:p2
Version: federal_register_of_legislation:F2024L01251
Segment Type: clause
Provision Reference: sch 2 cl 8A (pt 2/6)
Character Range: 44541–47406

by the arrangement have subsequently fallen due in that month (whether or not those subsequent payments have been paid).
 (5) If two or more financial hardship arrangements are active on the assessment day, the financial hardship information and repayment history information that may be disclosed is to be determined by reference to the financial hardship arrangement that requires the lowest payment obligation for that month.
Note: It is possible for more than one financial hardship arrangement to be 'active' for a month. However, a credit provider can only disclose repayment history information and, therefore, financial hardship information in relation to one of those arrangements: see paragraph 8(3)(a).
 (6) If the consumer credit is held jointly by two or more individuals and a financial hardship arrangement is made between any of those individuals and the CP, financial hardship information may be disclosed in relation to all individuals who hold the consumer credit.
Note: If a credit provider complies with the conditions associated with making a financial hardship arrangement with one individual who holds the consumer credit, the need not e.g. obtain the agreement or consent to the financial hardship arrangement of other individuals who jointly hold the consumer credit. The provider may need to consider whether it would be appropriate to notify those other individuals.
 (7) Subject to subsections (14) and (15), if a credit provider discloses financial hardship information in a month in relation to consumer credit, the provider must also disclose repayment history information in relation to that consumer credit for that month.
 (8) An individual will satisfy the conditions of paragraph 6QA(5)(b) of the Act if the individual pays their ordinary monthly payment in the month plus all amounts overdue from previous months, and that payment is made by the last day of the month.
Note: Information about a temporary FHA is not financial hardship information where the conditions of subsection 6QA(5) of the Act are met, including that was equal to, or greater than, the amount the individual would have been obliged to pay apart from the arrangement.

Timing of commencement of financial hardship arrangements
  (9) For the avoidance of doubt, a financial hardship arrangement is made when the individual and a credit provider agree to the arrangement and not when a hardship request is made. However, the commencement date of a financial hardship arrangement may be backdated:
 (a) to no earlier than the day the hardship request was made by the individual:
 (i) if the credit provider has unreasonably or unnecessarily delayed agreeing to the arrangement, having regard to the time that the provider acting reasonably would have taken and any conduct of the individual that contributed to the delay; or
 (ii) otherwise, where the credit