National Consumer Credit Protection Act 2009

SCHEDULE 1 - NATIONAL CREDIT CODE  

Note:

See section 3 of the National Credit Act.

PART 11 - CONSUMER LEASES  

Division 8 - Repossession, termination and enforcement of consumer leases  

Subdivision C - Enforcement of consumer leases  

179GA   Limit on amount that may be recovered if there is default under a consumer lease  

179GA(1)    
If there is a default in payment under a consumer lease and the regulations prescribe a way of working out a limit on the amount that may be recovered for the default, the lessor must not recover more than the limit for the default.

Civil penalty: 5,000 penalty units.

179GA(2)    
Any provision of the lease that confers a greater right is void to the extent that it does so. If an amount is in fact recovered in excess of this limitation, it may be recovered back.

179GA(3)    
This section does not apply to enforcement expenses.

Note:

Section 179R deals with enforcement expenses.