Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) Subsection 87(2) of the Code does not apply to a credit provider if the default mentioned in subsection 87(1) of the Code is rectified before the credit provider is required to give the direct debit default notice under subsection 87(2).
(2) Disregard a default in relation to which, in reliance on subregulation (1), no direct debit default notice is given.
Note: Section 203B of the Code provides, among other things, that the regulations may exempt a person or a class of persons from all or specified provisions of the Code.