Document ID: chunk:federal_register_of_legislation:C2024C00826:clause:1_24
Version: federal_register_of_legislation:C2024C00826
Segment Type: clause
Provision Reference: sch 1 cl 24
Character Range: 788126–789098

24  Offences related to prohibited monetary obligations—credit providers
 (1) A credit provider must not:
 (a) enter into a credit contract on terms imposing a monetary liability prohibited by subsection 23(1); or
 (b) require or accept payment of an amount in respect of a monetary liability that cannot be imposed consistently with this Code.
Civil penalty: 5,000 penalty units.
 (1A) A credit provider must not:
 (a) enter into a small amount credit contract on terms imposing a monetary liability prohibited by subsection 23A(1); or
 (b) require or accept payment of an amount in respect of a monetary liability that cannot be imposed consistently with this Code.
Civil penalty: 5,000 penalty units.

Offence
 (2) A person commits an offence of strict liability if:
 (a) the person is subject to a requirement under subsection (1) or (1A); and
 (b) the person engages in conduct; and
 (c) the conduct contravenes the requirement.
Criminal penalty: 100 penalty units.