Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) For subsection 17(16) of the Code, the information and warnings set out in Form 6 or 7, as relevant, are prescribed, but only if the credit contract document is to be signed by the debtor.
(2) Form 6 is the relevant form if the document signed by the debtor constitutes an offer.
(3) Form 7 is the relevant form if the document signed by the debtor constitutes the acceptance of an offer by the credit provider.
(4) The information and warnings mentioned in subsection (1):
(a) are to be in the relevant form (including in the form of boxes); and
(b) must:
(i) be set out immediately above, and on the same page as, each place where the debtor (or at least one of the debtors) is to sign the contract document; or
(ii) if a contract is made by electronic communication--be prominently displayed when, but not after, the debtor (or if 2 or more debtors, each debtor) signs.
Note 1: Section 17 of the Code sets out the matters to be included in the credit contract document. Subsection 17(16) requires the contract document to contain any additional information or warnings required by the regulations.
Note 2: Section 18 of the Code requires a contract document to conform to the requirements of the regulations as to its form and the way it is expressed.