Document ID: chunk:federal_register_of_legislation:C2024C00826:clause:1_153
Version: federal_register_of_legislation:C2024C00826
Segment Type: clause
Provision Reference: sch 1 cl 153
Character Range: 965552–966154

153  Interest rates which may be disclosed
 (1) A person must not disclose an interest rate:
 (a) in an advertisement that states or implies that credit is available; or
 (b) to a debtor before the debtor enters into a credit contract;
unless the interest rate is expressed as a nominal percentage rate per annum or is the comparison rate calculated as prescribed by the regulations and accompanied by the warnings set out in the regulations.
Criminal penalty: 100 penalty units.
 (2) Subsection (1) is an offence of strict liability.
Note: For strict liability, see section 6.1 of the Criminal Code.