National Consumer Credit Protection Act 2009

SCHEDULE 1 - NATIONAL CREDIT CODE  

Note:

See section 3 of the National Credit Act.

PART 2 - CREDIT CONTRACTS  

Division 4 - Fees and charges  

32   Fees or charges in relation to third parties  

When this section applies

32(1)    
This section applies if a fee or charge is payable by a debtor to the credit provider for an amount (the third party amount ) payable or paid by the credit provider to another person, body or agency.

Third party amount ascertainable at time of debtor payment

32(2)    
If, when the fee or charge is paid by the debtor to the credit provider, the third party amount is ascertainable, then the amount of the fee or charge must not exceed the third party amount.

Third party amount not ascertainable at time of debtor payment

32(3)    
If:

(a) when the fee or charge is paid by the debtor to the credit provider, the third party amount is not ascertainable; and

(b) after the fee or charge is paid, the credit provider ascertains the third party amount; and

(c) the third party amount is less than the amount of the fee or charge paid;

then the credit provider must refund or credit the difference to the debtor.

Determining third party amount

32(4)    
The third party amount is to be determined by:

(a) taking into account any discount, rebate or other allowance that is received or receivable by the credit provider or a related body corporate (within the meaning of the Corporations Act 2001 ); and

(b) disregarding any rebate on tax payable by the credit provider or a related body corporate (within the meaning of that Act).