National Consumer Credit Protection Act 2009

SCHEDULE 1 - NATIONAL CREDIT CODE  

Note:

See section 3 of the National Credit Act.

PART 6 - PENALTIES FOR DEFAULTS OF CREDIT PROVIDERS AND LESSORS  

Division 1 - Penalties for breach of key disclosure and other requirements  

115   Payment of penalty to debtor, lessee or guarantor  

115(1)    

An amount of penalty ordered by the court to be paid may:

(a)    if the order was made on an application by a debtor or a guarantor in relation to a credit contract - be set off by the debtor or guarantor against any amount that is due or becomes due to the credit provider under the contract; or

(b)    if the order was made on an application by a lessee in relation to a consumer lease - be set off by the lessee against any amount that is due or becomes due to the lessor under the lease.

If there is no such amount, the amount of the penalty is a debt due by the credit provider or lessor to the debtor, lessee or guarantor

115(2)    
The Consolidated Revenue Fund is appropriated for the purposes of:

(a)    a set-off; or

(b)    A debt due;

in relation to a penalty ordered under subsection (1). The Public Governance, Performance and Accountability Act 2013 does not apply in relation to those amounts.

115(3)    

An order made on application by a debtor, a lessee or a guarantor may include such directions as the court considers appropriate relating to the payment of the amount owed by the debtor or lessee, or the credit provider or lessor, as a result of the order.