Consumer Credit Legislation Amendment (Enhancements) Act 2012 (130 of 2012)
Schedule 4 Caps on costs etc. for credit contracts
National Consumer Credit Protection Act 2009
6 After subsection 24(1) of the National Credit Code
Insert:
(1A) A credit provider must not:
(a) enter into a small amount credit contract on terms imposing a monetary liability prohibited by subsection 23A(1); or
(b) require or accept payment of an amount in respect of a monetary liability that cannot be imposed consistently with this Code.
Criminal penalty: 100 penalty units.
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