Document ID: chunk:federal_register_of_legislation:C2018A00009:clause:5_133bfa
Version: federal_register_of_legislation:C2018A00009
Segment Type: clause
Provision Reference: sch 5 cl 133BFA
Character Range: 34030–35296

133BFA  Credit provider to provide online capacity to request reduction of credit limit

When this section applies
 (1) This section applies if a consumer who is the debtor under a credit card contract has a credit limit reduction entitlement under the contract on a day (the online reduction day).

Requirement
 (2) The licensee who is the credit provider under the credit card contract must establish and maintain a website that satisfies all of the following paragraphs:
 (a) the website tells the consumer that the consumer may use the website to request a reduction in the consumer's credit limit;
 (b) the website:
 (i) tells the consumer what information the consumer will need to enter in order to request a reduction in the consumer's credit limit; and
 (ii) provides the consumer with instructions on how to request a reduction in the consumer's credit limit;
 (c) if the consumer enters the information and follows those instructions, the consumer can use the website to request a reduction in the consumer's credit limit;
 (d) the website is available on the online reduction day.
Civil penalty: 2,000 penalty units.

Defence
 (3) For the purposes of subsection (2), it is a defence if the website is reasonably unavailable on the online reduction day.