National Consumer Credit Protection Act 2009
CHAPTER 3
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RESPONSIBLE LENDING CONDUCT
PART 3-2C
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LICENSEES THAT ARE CREDIT PROVIDERS UNDER CREDIT CONTRACTS: ADDITIONAL RULES RELATING TO SHORT-TERM AND SMALL AMOUNT CREDIT CONTRACTS
Division 2
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Short-term and small amount credit contracts
SECTION 133CA
PROHIBITION ON ENTERING, OR INCREASING THE CREDIT LIMIT OF, SHORT-TERM CREDIT CONTRACTS
Prohibition
133CA(1)
A licensee must not:
(a) enter a short-term credit contract with a consumer who will be the debtor under the contract; or
(b) increase the credit limit of a short-term credit contract with a consumer who is the debtor under the contract.
Offence
133CA(2)
A person commits an offence if:
(a) the person is subject to a requirement under subsection (1); and
(b) the person engages in conduct; and
(c) the conduct contravenes the requirement.
View history note
Hide history noteProhibition
133CA(1)
A licensee must not:
(a) enter a short-term credit contract with a consumer who will be the debtor under the contract; or
(b) increase the credit limit of a short-term credit contract with a consumer who is the debtor under the contract.
Civil penalty: 5,000 penalty units.
Offence
133CA(2)
A person commits an offence if:
(a) the person is subject to a requirement under subsection (1); and
(b) the person engages in conduct; and
(c) the conduct contravenes the requirement.
Criminal penalty: 50 penalty units.