Treasury Laws Amendment (Responsible Buy Now Pay Later and Other Measures) Act 2024 (138 of 2024)

Schedule 2   Buy now, pay later

Part 2   Responsible lending conduct

National Consumer Credit Protection Act 2009

15   After subsection 17(15A) of the National Credit Code

Insert:

Elections relating to low cost credit contracts

(15B) If:

(a) the credit contract is a low cost credit contract; and

(b) the credit provider has made an election under subsection 133BXA(1) of the National Credit Act that covers the contract, and the election is in force;

then the contract document must contain a statement that the credit provider has made such an election.