Document ID: chunk:federal_register_of_legislation:F2024C00882:reg:2
Version: federal_register_of_legislation:F2024C00882
Segment Type: reg
Provision Reference: reg 2
Character Range: 294044–295265

2                          when the eligible contract (the new eligible contract) is entered into:                                                                                                      (a) for the 12‑month period commencing when the debtor enters into the new eligible contract—nil; and
                           (a) the debtor:                                                                                                                                                              (b) for any later 12‑month period during which the new eligible credit contract is in effect—nil
                           (i) is already; or
                           (ii) was within the previous 12 months;
                            a party to an eligible contract with the credit provider or with an associate of the credit provider; and
                           (b) neither the credit provider nor the associate of the credit provider is an ADI

Note: Under subsection 6(5) of the Code, the Code does not apply to the provision of credit under an eligible contract unless the only charge that is or may be made for providing credit under the contract exceeds the maximum charge prescribed by this regulation.