Commonwealth Consolidated Regulations

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NATIONAL CONSUMER CREDIT PROTECTION REGULATIONS 2010 - REG 28LD

Reverse mortgages--projections of home equity

  (1)   For the purposes of paragraph   133DB(1)(a) of the Act, a projection may be given by the licensee or special purpose funding entity to the consumer in the following way:

  (a)   by mail;

  (b)   by email;

  (c)   by another form of written or electronic communication agreed to by the consumer.

  (2)   For the purposes of subparagraph   133DB(1)(a)(ii) of the Act, the licensee   or special purpose funding entity must make the projections in accordance with any instructions for the making of the projections included on the website approved by ASIC for that subparagraph.



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