National Consumer Credit Protection Act 2009

CHAPTER 7 - MISCELLANEOUS  

PART 7-1 - MISCELLANEOUS  

Division 5 - Other miscellaneous provisions  

SECTION 334   CONTRACTING OUT ETC.  

334(1)   [ Avoidance or modification of Act void]  

A provision of a contract or other instrument by which a person seeks to avoid or modify the effect of this Act (other than the National Credit Code) is void.

Note:

A similar rule applies for the purposes of the National Credit Code (see section 191 of that Code).

334(2)   [ Other circumstances when provision of contract or other instrument void]  

A provision of a contract or other instrument by which a person seeks to have:

(a) a debtor indemnify a credit provider; or

(b) a mortgagor indemnify a mortgagee; or

(c) a guarantor indemnify a beneficiary of a guarantee; or

(d) a lessee indemnify a lessor;

for any loss or liability arising under this Act (other than the National Credit Code) is void.

Note:

A similar rule applies for the purposes of the National Credit Code (see section 191 of that Code).

334(3)   [ Commission of offence]  

A person commits an offence if:

(a) the person is a credit provider, mortgagee, beneficiary of a guarantee or lessor; and

(b) the person is a party to a contract or other instrument; and

(c) the contract or other instrument is void under subsection (1) or (2).

Criminal penalty: 100 penalty units.

334(4)   [ Strict liability]  

Subsection (3) is an offence of strict liability:

Note:

For strict liability, see section 6.1 of the Criminal Code .

334(5)   [ Other legislation]  

Subsection (2) does not affect the operation of subsection 60(2) of the National Credit Code.