Commonwealth Numbered Regulations Commonwealth Numbered Regulations(1) For subsection 194 (9) of the Code, a nomination under subsection 194 (4) or (6) of the Code must be in the following form:
(a) the nomination must contain the words:
'I/We nominate [ full name of person nominated ] to receive notices and other documents under the National Credit Code on behalf of me/all of us.';
(b) the nomination must contain a prominent statement:
(i) that each debtor, mortgagor or guarantor is entitled to receive a copy of any notice or other document under the Code; and
(ii) that, by signing the form, the debtor, mortgagor or guarantor is giving up the right to be provided with information direct from the credit provider;
(c) the nomination must contain a prominent statement that any person who has signed the form can advise the credit provider at any time in writing that the person wishes to cancel the nomination.
(2) For subsection 194 (9) of the Code, a consent under subsection 194 (5) of the Code must be in the following form:
(a) the consent must contain the words:
'We consent to notices and other documents under the National Credit Code being sent jointly to us at [ address for service ].';
(b) the consent must contain a prominent statement:
(i) that each debtor, mortgagor or guarantor is entitled to receive a copy of any notice or other document under the Code; and
(ii) that, by signing the form, the debtor, mortgagor or guarantor is giving up the right to be provided with information separately from the credit provider;
(c) the consent must contain a prominent statement that any person who has signed the form can advise the credit provider at any time in writing that the person wishes to cancel the consent.