Consumer Credit Legislation Amendment (Enhancements) Act 2012 (130 of 2012)

Schedule 4   Caps on costs etc. for credit contracts

National Consumer Credit Protection Act 2009

6   After subsection 24(1) of the National Credit Code

Insert:

(1A) A credit provider must not:

(a) enter into a small amount credit contract on terms imposing a monetary liability prohibited by subsection 23A(1); or

(b) require or accept payment of an amount in respect of a monetary liability that cannot be imposed consistently with this Code.

Criminal penalty: 100 penalty units.