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NATIONAL CONSUMER CREDIT PROTECTION ACT 2009 - SECT 133AA

What is a standard home loan ?

  (1)   A standard home loan of a licensee is a standard form of credit contract under which the licensee provides credit:

  (a)   to purchase residential property; or

  (b)   to refinance credit that has been provided wholly or predominantly to purchase residential property.

  (2)   The regulations may make provisions that apply to determining, for the purpose of subsection   (1), whether a credit contract is a standard form of credit contract.


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