National Consumer Credit Protection Act 2009
Note:
See section 3 of the National Credit Act.
PART 2 - CREDIT CONTRACTS Division 5A - Additional rules relating to small amount credit contracts
View history note
Hide history noteIf there is a default in payment under a small amount credit contract, the credit provider in relation to the contract must not (whether by repayments under the contract or otherwise) recover more than twice the adjusted credit amount in relation to the contract.
Civil penalty: 5,000 penalty units.
39B(2)
Any provision of the small amount credit contract that confers a greater right is void to the extent that it does so. If an amount is in fact recovered in excess of this limitation, it may be recovered back.
39B(3)
This section does not apply to enforcement expenses.
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