Document ID: chunk:federal_register_of_legislation:C2024C00826:section:124:p2
Version: federal_register_of_legislation:C2024C00826
Segment Type: section
Provision Reference: s 124 (pt 2/2)
Character Range: 256660–257729

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: 2 years imprisonment.

Defence
 (7) For the purposes of subsections (1) and (6), it is a defence if:
 (a) the licensee suggested that the consumer remain in the credit contract because, after making reasonable inquiries, the licensee reasonably believed that there was no other credit contract that was not unsuitable for the consumer; and
 (b) the licensee informed the consumer that there is a procedure under sections 72 and 94 of the National Credit Code for consumers in hardship.
Note: For the purposes of subsection (6), a defendant bears an evidential burden in relation to the matter in subsection (7) (see subsection 13.3(3) of the Criminal Code).
 (8) The regulations may prescribe particular inquiries that must be made, or do not need to be made, for the purposes of paragraph (7)(a).

Division 7—Special rules for short‑term and small amount credit contracts