Is there anyone know about Uniform Consumer Credit Code?

@cydzzj (354)
Australia
February 6, 2008 4:15am CST
Hello, everyone, I just study something in mortgage & finance. I found that if I want work in this area, I need pass a test which name is UCCcode. But I do not know about it. Is there anyone know it?
1 person likes this
1 response
@JoeMel (41)
• Australia
15 Feb 08
The UCCC legislation regulates credit provided to personal customers and strata corporations that is intended wholly or predominantly for personal, domestic or household use. Strata corporations are defined as a group of people who collectively own and manage residential accommodation. There is no monetary limit on the size of loans covered by the UCCC. The Code does not extend to loans that are wholly or predominantly for business and/or investment purposes.
1 person likes this
@cydzzj (354)
• Australia
15 Feb 08
Thank you for your reply. Now I know about that what UCCC working for. Does it means if someone want borrow money for earning money, so UCCC do not protect him?