Document ID: chunk:federal_register_of_legislation:C2011A00084:clause:1_133bd
Version: federal_register_of_legislation:C2011A00084
Segment Type: clause
Provision Reference: sch 1 cl 133BD
Character Range: 16846–18201

133BD  Credit provider not to enter into credit card contract unless Key Facts Sheet has been provided etc.

Requirement
 (1) If a consumer applies to a licensee for a credit card contract under which the licensee would be the credit provider, the licensee must not enter into, or offer to enter into, the contract unless:
 (a) the application is made using an application form that includes a Key Facts Sheet for the contract that contains up‑to‑date information; or
 (b) the following conditions are satisfied:
 (i) the application is made using an application form that includes a Key Facts Sheet for the contract that contains information that has ceased to be up‑to‑date;
 (ii) the consumer has been provided with the up‑to‑date information in accordance with any requirements prescribed by the regulations; or
 (c) the consumer has otherwise been provided with a Key Facts Sheet for the contract that contains up‑to‑date information in accordance with any requirements prescribed by the regulations.
Civil penalty: 2,000 penalty units.

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

Division 4—Offers etc. to increase credit limit of credit card contract