Offence Provisions relating to Debt Agreements

From 1 December 2010, Section 269 applies to debtors who enter into debt agreements.

Section 269 provides that a debtor who is party to a debt agreement either jointly or with another person –

• Shall not obtain credit to the extent of $3,000 or more without informing the person they are party to a debt agreement;
• Giving a bill of exchange or a cheque or a combination of both to the extent of $3,000 or more without informing the person they are party to a debt agreement;
• Enter into hire purchase agreement or a contract to hire or lease equipment to the extent of $3,000 or more without informing the person they are party to a debt agreement;
• Obtain goods or services from a person by promising to pay that person an amount or amounts aggregating to $3,000 or more without informing the person they are party to a debt agreement;
• Obtain an amount of or amounts aggregating to $3,000 or more from a person by promising to supply goods or a service without informing the person they are party to a debt agreement;
• Carry on a business under an assumed name, in the name of another person or, either alone or in partnership, under a firm name without disclosing to every person whom he or he or, if he or she is carrying on business in partnership under a firm name, the partnership deals, his or her true name and the fact that he or she is a party to a debt agreement.