Creditcrest Documents

The right document, in the version in force, at the right step — with proof it was given.

The right version, in order.

Credit guide, target market determination and contract, issued in the version in force.

What you do here. See which documents an example lender must give, when, and in which version.

Assessment is refused

Assess is refused until the credit guide (National Credit Act s 126(1) and (2)) is recorded as given.

Document	Before	Law	Why that step
Target market determination	apply	Corporations Act s 994B, as stated in ASIC RG 274.137 (the section itself was not read for this file)	The law’s point: before the product is distributed. Recorded as published, not given to each person.
Small amount credit information (ASIC determination under s 133CB)	apply	National Credit Act s 133CB(1) and (2), and s 124B in the same words for credit assistance	This file’s reading: the section requires information displayed and given as ASIC determines; the gate puts it before an application is taken.
Credit guide	assess	National Credit Act s 126(1) and (2)	This file’s reading of “as soon as practicable after it becomes apparent”: before the application is assessed.
Key Facts Sheet (standard home loan)	does not apply	National Credit Act s 133AD(1) and (2)	Applies when the consumer asked; the gate puts it before an offer.
Precontractual statement	offer	National Credit Code s 16(1) and (2)	The law’s point, read the earlier way: before the debtor makes an offer or the contract is entered, whichever is first.
Information statement	offer	National Credit Code s 16(1) and (2)	As the precontractual statement.
Copy of the assessment	does not apply	National Credit Act s 132(1)	The law’s point when asked for before the contract (s 132(1)). After the contract it is a clock, not a gate.