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LexisNexis Practical Guidance®
Straightforward guidance across a range of topics
- Consumer credit
- Product design
Overview — Product design and consumer credit
Product design is an important issue for regulated credit businesses. A legal adviser for a regulated credit business may be called on to assist the credit provider in developing the features of credit products that the credit provider wishes to offer, or modifications to existing products. This is an important task, because different product features will result in the product being regulated differently under the National Credit Code (NCC) and the National Consumer Credit Protection Act 2009 (Cth) (NCCPA).
This guidance note considers various features of a credit contract and factors which may affect how a product is regulated and product life cycle documentation.
See Product design and consumer credit.
