National Consumer Credit Protection Act 2009

CHAPTER 3 - RESPONSIBLE LENDING CONDUCT  

PART 3-2B - LICENSEES THAT ARE CREDIT PROVIDERS UNDER CREDIT CONTRACTS: ADDITIONAL RULES RELATING TO CREDIT CARD CONTRACTS  

Division 8 - Ending credit card contracts  

SECTION 133BW   CREDIT PROVIDER TO GIVE EFFECT TO REQUEST TO TERMINATE CREDIT CARD CONTRACT  

When this section applies

133BW(1)    
This section applies if:

(a) a consumer who is the debtor under a credit card contract has a credit card termination entitlement under the contract; and

(b) the consumer has requested to terminate the consumer ' s credit card contract.

Requirement

133BW(2)    

The licensee who is the credit provider under the credit card contract must take reasonable steps to ensure that the request is given effect to as soon as practicable.

Civil penalty: 5,000 penalty units.

Offence

133BW(3)    
A person commits an offence if:

(a) the person is subject to a requirement under subsection (2); and

(b) the person engages in conduct; and

(c) the conduct contravenes the requirement.

Criminal penalty: 50 penalty units.