Document ID: chunk:federal_register_of_legislation:C2024C00826:clause:1_70
Version: federal_register_of_legislation:C2024C00826
Segment Type: clause
Provision Reference: sch 1 cl 70
Character Range: 856066–856697

70  Prohibited increases in liabilities
 (1) If the annual percentage rate under a credit contract is currently fixed for a specified term (including the whole term) of the contract, the contract cannot be changed unilaterally by a credit provider so as to increase, or change the method of calculation of a fee or charge so as to increase, a fee or charge:
 (a) payable by the debtor on early termination of the credit contract; or
 (b) payable on prepayment of an amount under the credit contract.
 (2) The regulations may prescribe circumstances in which such a change is permitted.

Division 2—Changes by agreement of parties