Document ID: chunk:federal_register_of_legislation:F2024C00882:reg:28lbi
Version: federal_register_of_legislation:F2024C00882
Segment Type: reg
Provision Reference: reg 28LBI
Character Range: 192106–192670

28LBI  Agreement to apply payment against particular amount owed
  For the purposes of subsection 133BP(5) of the Act, a licensee that proposes to agree to a request by a consumer to apply certain payments made under the credit card contract against a particular amount must, before agreeing to the request, advise the consumer that the consumer:
 (a) may be liable to pay an amount or rate of interest under the agreement that is greater than the consumer would be liable to pay under section 133BQ of the Act; and
 (b) may withdraw the request at a later time.