Document ID: chunk:federal_register_of_legislation:C2008A00105:clause:1_8
Version: federal_register_of_legislation:C2008A00105
Segment Type: clause
Provision Reference: sch 1 cl 8
Character Range: 4915–5547

8  Subsection 5(1)
Insert:

net credit balance:
 (a) the net credit balance, at a time, of an account means the excess of the balance of the account in credit in favour of the account‑holder at that time over the amount (if any) of fees, charges and duties that are identified under the agreement under which the account is kept and are payable by the account‑holder to the ADI at that time; and
 (b) the net credit balance, at a time, of a covered financial product that is not an account means the amount owed to the account‑holder at that time under the terms of the agreement under which the covered financial product is kept.