Document ID: chunk:federal_register_of_legislation:C2024C00826:section:301e
Version: federal_register_of_legislation:C2024C00826
Segment Type: section
Provision Reference: s 301E
Character Range: 665603–666609

301E  Significant detriment to consumers
 (1) In considering whether a credit product has resulted in, or will or is likely to result in, significant detriment to consumers for the purposes of this Part, the following must be taken into account:
 (a) the nature and extent of the detriment;
 (b) without limiting paragraph (a), the actual or potential financial loss to consumers resulting from the product;
 (c) the impact that the detriment has had, or will or is likely to have, on consumers;
 (d) any other matter prescribed by regulations made for the purposes of this paragraph.
 (2) Subsection (1) does not limit the matters to be taken into account in considering whether a credit product has resulted in, or will or is likely to result in, significant detriment to consumers for the purposes of this Part.
 (3) A credit product may result in significant detriment to consumers even if a person has complied with the disclosure requirements in the National Credit Code in relation to the product.