Commonwealth Consolidated Regulations

NATIONAL CONSUMER CREDIT PROTECTION REGULATIONS 2010 - REG 64

  (1)   The Code does not apply to the following mortgages:

  (a)   a mortgage relating to perishable goods, livestock, primary produce or food stuffs;

  (b)   a banker's right to combine accounts;

  (c)   a lien or charge arising by operation of any Act or law or by custom.

  (2)   However, sections   16 and 17 of the Code (relating to disclosures) apply in respect of a mortgage mentioned in paragraph   (1)(a).

  (3)   Section   91 of the Code does not apply to any mortgage relating to goods that are lawfully in the possession of the credit provider.

Note:   This regulation is made under subsection   7(3) of the Code.