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  

31B   Credit provider or prescribed person must not require or accept payment of a fee or charge in relation to a small amount credit contract etc.  

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31B(1)    
A credit provider, or a person prescribed by the regulations, must not require or accept payment by the debtor of a fee or charge in relation to:


(a) a small amount credit contract; or


(b) the provision of the amount of credit under a small amount credit contract; or


(c) a thing that is connected with a small amount credit contract or the provision of the amount of credit under such a contract.

Criminal penalty: 100 penalty units.


31B(2)    
Subsection (1) does not apply if the fee or charge is:


(a) a fee or charge that may be imposed or provided for by the small amount credit contract under section 31A; or


(b) a fee or charge prescribed by the regulations.

31B(3)    
If a credit provider or person contravenes subsection (1):


(a) the debtor is not liable (and is taken never to have been liable) to make the payment to the credit provider or person; and


(b) the debtor may recover as a debt due to the debtor the amount of any payment made by the debtor to the credit provider or person.

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