Document ID: chunk:federal_register_of_legislation:F2024C00882:reg:109
Version: federal_register_of_legislation:F2024C00882
Segment Type: reg
Provision Reference: reg 109
Character Range: 390591–391329

109  Contracts linked to offset accounts
 (1) Disclosures for the purposes of the Code relating to a credit contract linked to an offset account may be made on the assumption that the contract is not linked to the offset account.
 (2) If the amount of interest charges under a credit contract is affected by an offset account during a statement period:
 (a) the statement of account is to disclose the net interest charge debited under the credit contract during the statement period; and
 (b) the statement of account must also show the amount by which the net interest differs from the interest charge that would otherwise have been payable under the credit contract if the interest charge had not been affected by the offset account.