Australian Capital Territory Numbered Acts

CREDIT (AMENDMENT) ACT 1991 (NO. 97 OF 1991) - SECT 7

7. Section 86 of the Principal Act is amended—

    (a)     by omitting from the end of paragraph (a) “and”; and

    (b)     by adding at the end the following word, paragraph and subsections:

“; and         (c)     may make a determination under section 85 in relation to all regulated contracts of a specified class entered into by the credit provider during a specified period (for example, all regulated contracts entered into during a specified period which are affected by a specified contravention or failure).

“(2) The debtors affected by an application under this section need not be identified in the application, however the Tribunal may, if it considers that it is appropriate to do so, decline to deal with the application unless the application is amended to identify the debtors.

“(3) The Tribunal may authorise notice of an application under this section to be given by the publication of the notice in a daily newspaper published and circulating in the Territory if the Tribunal considers that because of the number of debtors and the other circumstances of the case it is appropriate to do so.

“(4) If the debtors affected by any such application are not identified in the notice, the following information must be included in the notice:

        (a)     the name of the credit provider;

        (b)     a general description of the regulated contracts concerned;

        (c)     the period during which the contracts were entered into;

        (d)     the nature of the contraventions or failures to which the application relates.

“(5) Each debtor who may be affected by any such application is taken to have been personally served with a notice so published and is not entitled to any other notice of the application.”.