Treasury Laws Amendment (Responsible Buy Now Pay Later and Other Measures) Act 2024 (138 of 2024)

Schedule 2   Buy now, pay later

Part 5   Contract documents and statements of account

National Consumer Credit Protection Act 2009

33   After subsection 17(10) of the National Credit Code

Insert:

(10A) If the credit contract is a low cost credit contract, and statements of account are to be given to the debtor by electronic communication, then the contract document must contain information about how the statements of account will be given.

(10B) If the credit contract is a low cost credit contract, and statements of account are not required to be given because of paragraph 33(3)(g), then the contract document must contain the information (if any) prescribed by the regulations for the purposes of this subsection.