125Guide to this Part

125  Guide to this Part This Part has rules that apply to licensees that are credit providers. These rules are aimed at better informing consumers and preventing them from being in unsuitable credit contracts. Division 2 requires a licensee to give its credit guide to a consumer. The credit guide has information about the licensee and some of the licensee’s obligations under this Act. Division 3 requires a licensee, before doing particular things (such as entering a credit contract), to make an assessment as to whether the contract will be unsuitable. To do this, the licensee must make inquiries and verifications about the consumer’s requirements, objectives and financial situation. The licensee must give the consumer a copy of the assessment if requested. Division 4 prohibits a licensee from entering or increasing the credit limit of a credit contract that is unsuitable for a consumer. Division 2—Credit guide of credit providers 126  Credit guide of credit providers  (1) A licensee must, as soon as practicable after it becomes apparent to the licensee that it is likely to enter a credit contract with a consumer who will be the debtor under the contract, give the consumer the licensee’s credit guide in accordance with subsection (2).  (e) give information about the licensee’s procedure for resolving disputes with a consumer, including contact details for a consumer to access:  (f) give information about the licensee’s obligations under sections 132 and 133; and  (4) The licensee must give the consumer the licensee’s credit guide in the manner (if any) prescribed by the regulations.