ASIC accepts enforceable undertaking (EU) from Solar Rental Company

Following a recent investigation, ASIC found that Solar Rental Company Pty Ltd entered into rental agreements with consumers whilst not holding an Australian credit license. The rental agreements may also fail to meet disclosure requirements.

Solar Rental has entered into an EU with ASIC. Solar Rental is required to write to all affected consumers with an offer of the options available. These include termination of their rental agreements, purchasing the solar systems less rental amounts already paid or entering into a new rental agreement that complies with the National Credit Act.

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Michael Duncan