Did the worm turn?, page-5

i have perused the NCCP latest Act, and can conclude that TGA enter into an actual binding credit contract with their rent/buy scheme which is defined as "sale by installments" and is treated exactly the same as a credit loan.
the 48% cap applies and if a person who takes out one of these contracts is not "assisted" or made aware that they are paying even the cap rate of 48%, let alone the 100% plus rate by thorn, then that will be deemed a criminal offence.
the sp spike today may be motivated behind the scenes as a result of legal advice given to the Thorn directors in relation to this matter.
i am not a lawyer, but the definition of the law has to be adhered to, but the only variable is the desire for the authorities to enact such a law.
ps- it does not take too much these days with social media to make the government look very average ,especially when you are dealing with vulnerable types.

DYOR ,but this is make or break for Thorn.

cheers crazypunter