National Consumer Credit Protection Act 2009

SCHEDULE 1 - NATIONAL CREDIT CODE  

Note:

See section 3 of the National Credit Act.

PART 7 - RELATED SALE CONTRACTS  

Division 5 - Other provisions  

141   Prohibition on payment for goods or services by postdated bills of exchange or notes which exceed cash price of goods or services  

141(1)    
A supplier must not demand or accept payment from the purchaser for goods or services supplied under a sale contract in the form of a postdated bill of exchange or promissory note given by the purchaser if the face value of the bill or note exceeds the cash price of the goods or services.

Criminal penalty: 100 penalty units.

141(2)    
Subsection (1) does not apply unless the postponement of the debt to the supplier constitutes a provision of credit to which this Code applies.

141(3)    
Subsection (1) is an offence of strict liability.

Note:

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