Treasury Laws Amendment (Responsible Buy Now Pay Later and Other Measures) Act 2024 (138 of 2024)
Schedule 2 Buy now, pay later
Part 6 Increasing credit limits
National Consumer Credit Protection Act 2009
39 After section 67 of the National Credit Code
Insert:
67AA Increasing credit limits under low cost credit contracts
A credit provider may increase the credit limit under a low cost credit contract only at the request of the debtor or with the written consent of the debtor.
Note: For low cost credit contracts that are continuing credit contracts, subsection 67(4) has the same effect as this section.
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