Document ID: chunk:federal_register_of_legislation:F2024C00882:reg:28lbh
Version: federal_register_of_legislation:F2024C00882
Segment Type: reg
Provision Reference: reg 28LBH
Character Range: 191419–192106

28LBH  Records of elections and withdrawals to be kept
 (1) For the purposes of subsection 133BJ(1) of the Act, if a consumer in relation to a credit card contract has:
 (a) given a consent covering the imposition of fees or charges, or a higher rate of interest, in relation to the contract; or
 (b) withdrawn a consent of that kind;
the licensee in relation to the contract must keep a record stating that a consent or withdrawal is current and showing the date on which the consent was given or withdrawn.
Note: The consent is described in detail in section 133BI of the Act.
 (2) The licensee must keep the record for the period during which the consent or withdrawal is in effect.