Do banks and ADIs need to respond to hardship notices within statutory timeframe?
A computed answer from the Rules Mate applicability engine, with the exact condition, the outcome for every structure and size, and the primary source.
Short answer: Yes
Yes. This obligation applies to banks and ADIs whatever their structure or size. The deciding fact: Authorised deposit-taking institution · Sells to consumers.
The obligation in brief
Respond to hardship notices within statutory timeframe. Section 72 of the National Credit Code requires credit providers to consider a hardship notice (oral or written) within 21 days. Variations include reduced payments, extended terms, payment freeze, or interest-only.
Trigger: Receipt of a hardship notice from a consumer.
Why banks & adis get a different answer
Rules Mate runs its applicability engine across 9 business structures and 6 size bands for each of the 35 industries it maps. For 33 of those industries the answer for "Respond to hardship notices within statutory timeframe" is no. Banks & ADIs is one of the 2 where the answer is different: yes.
The deciding fact for banks and ADIs: Authorised deposit-taking institution · Sells to consumers.
About the industry: Authorised deposit-taking institutions regulated by APRA under the Banking Act 1959.
Compare a professional services (general) business with 6–19 employees structured as a Pty Ltd company: the obligation does not apply (Requires an ACL or credit activity and consumer customers).
Answer by business structure and size
Each cell is the engine's outcome for a business in banks & adis with that structure and size, assuming it sells to consumers and small businesses and holds customer contact details. "Check" means the obligation turns on a fact the industry does not settle.
| Structure | No employees | 1–5 employees | 6–19 employees | 20–99 employees | 100–499 employees | 500+ employees |
|---|---|---|---|---|---|---|
| Sole trader | Yes | Yes | Yes | Yes | Yes | Yes |
| Partnership | Yes | Yes | Yes | Yes | Yes | Yes |
| Trust | Yes | Yes | Yes | Yes | Yes | Yes |
| Pty Ltd company | Yes | Yes | Yes | Yes | Yes | Yes |
| Public company | Yes | Yes | Yes | Yes | Yes | Yes |
| Not-for-profit (unregistered) | Yes | Yes | Yes | Yes | Yes | Yes |
| Registered charity | Yes | Yes | Yes | Yes | Yes | Yes |
| Super fund | Yes | Yes | Yes | Yes | Yes | Yes |
| Foreign company | Yes | Yes | Yes | Yes | Yes | Yes |
What the obligation requires
- When due
- Within 21 days of notice.
- Evidence to keep
- Notice register, decision records with reasons, communications with consumer, AFCA complaints handling.
- Maximum penalty
- Civil penalties to NCCP maximum; AFCA scrutiny + remediation
- Regulator
- ASIC and AFCA
- Jurisdiction
- Commonwealth (national)
Other obligations where banks & adis differ from the norm
- Comply with NCCP responsible lending obligations: Yes
- Consumer Credit Hardship Notice (NCC ss 72-73): Yes
- Mortgage broker best interests duty: Only if
- Small Amount Credit Contract + Consumer Lease caps (post-SACC reforms): Only if
- Display comparison rate on credit product advertising: Yes
- Pre-2025 ban on unsolicited credit limit increase invitations: Only if
- All 32 answers for banks & adis
Other industries with a non-default answer
Questions
- Do banks and ADIs need to respond to hardship notices within statutory timeframe?
- Yes. This obligation applies to banks and ADIs whatever their structure or size. The deciding fact: Authorised deposit-taking institution · Sells to consumers.
- Is the answer the same for every industry?
- No. For 33 of the 35 industries Rules Mate maps, the answer is no. Banks & ADIs is one of 2 industries with a different answer.
Related
Sources
Computed by the Rules Mate applicability engine from the published obligation corpus; facts last checked 3 October 2026. Rules Mate is not a law firm and this is general information, not legal advice. Confirm your position with the regulator source or a qualified adviser before acting.