Who must comply with Consumer Credit Hardship Notice (NCC ss 72-73)?
The applicability test for Consumer Credit Hardship Notice (NCC ss 72-73) (ASIC and AFCA), computed across 35 industries, 9 business structures and 6 size bands.
Short answer: Some businesses
Applies when the business has an ACL or credit activity and consumer customers.
What the obligation is
Credit providers must respond to hardship notice + assess variation request.
Section 72 NCC. Debtors may give hardship notice; credit provider must respond + consider varying credit contract within 21 days. Reform under Treasury Laws Amendment (Better Targeted Tax Concessions and Other Measures) Act expected.
The applicability test
Applies when the business has an ACL or credit activity and consumer customers.
How the regulator frames it: Credit providers under NCCP.
What triggers it: Hardship notice from debtor.
Jurisdiction: Commonwealth law, so the test is the same in every state and territory.
Which industries are in or out
Outcome across the 35 industries Rules Mate maps (2 of 35: yes; 33 of 35: no).
| Industry | Answer |
|---|---|
| Banks & ADIs | Yes |
| Credit licensees & mortgage brokers | Yes |
| No | 33 other industries |
Business structure and size
Structure does not change the answer in the 2 industries it can reach: for every structure the answer is "yes".
Size does not change the answer in the 2 industries it can reach: at every size band the answer is "yes".
Worked examples
Each line is one run of the Rules Mate applicability engine for a single business profile, with the reason the engine gives:
- Pty Ltd company in banks & adis with 6–19 employees, turnover $1M–$3M: applies. Authorised deposit-taking institution · Sells to consumers.
- Pty Ltd company in real estate agents with 6–19 employees, turnover $1M–$3M: does not apply. Requires an ACL or credit activity and consumer customers.
Answers that bring it into scope
Starting from a small or large professional services company that does not otherwise meet the test, each of these single facts changes the engine's answer:
- The business holds an Australian credit licence (ACL): it then applies (ACL holder).
- The business provides credit to customers: it then applies (provides credit · Sells to consumers).
What you must do, and when
- When due
- Respond within 21 days.
- Frequency
- When a triggering event occurs
- Evidence to keep
- Hardship correspondence + assessment file + variation document.
- Status
- Current
- Priority
- Critical
Penalty for not complying
No maximum penalty is recorded for this obligation in the Rules Mate corpus; check the regulator source below.
Audit or assurance level
Rules Mate has not yet classified the audit or assurance level for this obligation. Any audit, review or certification requirement is set by the regulator source listed below.
Obligations with the same applicability test
If this obligation applies to you, so do these 3: the engine uses the same rule for each.
What usually applies alongside it
Across the 1,890 business profiles Rules Mate evaluates, these obligations apply to most of the businesses this one applies to, and are far more common among them than among businesses generally:
- Comply with credit reporting obligations (Part IIIA Privacy Act): applies to 100% of the same businesses (17.5× the overall rate)
- Register security interests on the PPSR: applies to 100% of the same businesses (17.5× the overall rate)
- Banking Code of Practice 2025: applies to 50% of the same businesses (17.5× the overall rate)
Where it sits in the corpus
Rules Mate tracks 8 published obligations tagged "credit", 5 of them rated critical. For a professional services Pty Ltd company with 6–19 employees operating in every state, 0 of those apply outright. This obligation is rated critical priority, and is triggered by events.
Regulator, legislation and tools
Regulated by Australian Securities and Investments Commission and Australian Financial Complaints Authority.
ASIC: Corporate regulator administering the Corporations Act, financial services and credit licensing (AFSL/ACL), markets supervision, insolvency, and registries (ASIC and ABRS).
AFCA: External dispute resolution body for financial services, credit, insurance, and superannuation complaints. Mandatory member scheme.
NCCP Act: Federal regulation of consumer credit.
Free tools that help with this obligation:
Questions
- Who must comply with Consumer Credit Hardship Notice (NCC ss 72-73)?
- Applies when the business has an ACL or credit activity and consumer customers.
- Does Consumer Credit Hardship Notice (NCC ss 72-73) apply to sole traders?
- Yes. Looking in the 2 industries it can reach and every size band, the engine's answer for a sole trader is: yes.
- Does Consumer Credit Hardship Notice (NCC ss 72-73) apply to businesses with 1–5 employees?
- Yes (1–5 employees, turnover $100K–$1M).
- When is "Consumer Credit Hardship Notice (NCC ss 72-73)" due?
- Respond within 21 days.
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.