Document ID: chunk:federal_register_of_legislation:C2011A00084:clause:1_133bc
Version: federal_register_of_legislation:C2011A00084
Segment Type: clause
Provision Reference: sch 1 cl 133BC
Character Range: 15189–16846

133BC  Application form for credit card contract to include up‑to‑date Key Facts Sheet

Requirement
 (1) If a licensee makes available to consumers an application form that can be used to apply for a credit card contract under which the licensee would be the credit provider, the licensee must ensure that the application form includes a Key Facts Sheet for the contract that contains up‑to‑date information.
Civil penalty: 2,000 penalty units.

Offence
 (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.

Circumstances in which application form may, for limited period, include out‑of‑date Key Facts Sheet
 (3) The regulations may prescribe circumstances in which a licensee may, for a period prescribed by the regulations, make available an application form that includes a Key Facts Sheet containing information that has ceased to be up‑to‑date.
Note: If a consumer applies using such an application form, the consumer must be given the up‑to‑date information: see paragraph 133BD(1)(b).
 (4) If a licensee makes available an application form that includes a Key Facts Sheet containing information that has ceased to be up‑to‑date, it is a defence for the purposes of subsections (1) and (2) if the application form was made available as permitted by regulations made for the purpose of subsection (3).
Note: For the purpose of subsection (2), a defendant bears an evidential burden in relation to the matter in this subsection (see subsection 13.3(3) of the Criminal Code).