Document ID: chunk:federal_register_of_legislation:C2012A00130:clause:3_133ca
Version: federal_register_of_legislation:C2012A00130
Segment Type: clause
Provision Reference: sch 3 cl 133CA
Character Range: 78292–78920

133CA  Prohibition on entering, or increasing the credit limit of, short‑term credit contracts

Prohibition
 (1) A licensee must not:
 (a) enter a short‑term credit contract with a consumer who will be the debtor under the contract; or
 (b) increase the credit limit of a short‑term credit contract with a consumer who is the debtor under the contract.
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: 50 penalty units.