National Consumer Credit Protection Act 2009
View history note
Hide history noteRequirement
133BD(1)
If a consumer applies to a licensee for a credit card contract under which the licensee would be the credit provider, the licensee must not enter into, or offer to enter into, the contract unless:
(a) the application is made using an application form that includes a Key Facts Sheet for the contract that contains up-to-date information; or
(b) the following conditions are satisfied:
(i) the application is made using an application form that includes a Key Facts Sheet for the contract that contains information that has ceased to be up-to-date;
(ii) the consumer has been provided with the up-to-date information in accordance with any requirements prescribed by the regulations; or
(c) the consumer has otherwise been provided with a Key Facts Sheet for the contract that contains up-to-date information in accordance with any requirements prescribed by the regulations.
Civil penalty: 5,000 penalty units.
Offence
133BD(2)
A person commits an offence if:
(a) the person is subject to a requirement under subsection (1); and
(b) the person engages in conduct; and
(c) the conduct contravenes the requirement.
Criminal penalty: 100 penalty units.
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