National Consumer Credit Protection Act 2009

CHAPTER 3 - RESPONSIBLE LENDING CONDUCT  

PART 3-2B - LICENSEES THAT ARE CREDIT PROVIDERS UNDER CREDIT CONTRACTS: ADDITIONAL RULES RELATING TO CREDIT CARD CONTRACTS  

Division 4 - Offers etc. to increase, and entitlement to reduce, credit limit of credit card contract  

SECTION 133BFA   CREDIT PROVIDER TO PROVIDE ONLINE CAPACITY TO REQUEST REDUCTION OF CREDIT LIMIT  

When this section applies

133BFA(1)    
This section applies if a consumer who is the debtor under a credit card contract has a credit limit reduction entitlement under the contract on a day (the online reduction day ).

Requirement

133BFA(2)    

The licensee who is the credit provider under the credit card contract must establish and maintain a website that satisfies all of the following paragraphs:

(a) the website tells the consumer that the consumer may use the website to request a reduction in the consumer ' s credit limit;

(b) the website:

(i) tells the consumer what information the consumer will need to enter in order to request a reduction in the consumer ' s credit limit; and

(ii) provides the consumer with instructions on how to request a reduction in the consumer ' s credit limit;

(c) if the consumer enters the information and follows those instructions, the consumer can use the website to request a reduction in the consumer ' s credit limit;

(d) the website is available on the online reduction day.

Civil penalty: 5,000 penalty units.

Defence

133BFA(3)    
For the purposes of subsection (2), it is a defence if the website is reasonably unavailable on the online reduction day.