Document ID: chunk:federal_register_of_legislation:C2018A00009:clause:5_133bw
Version: federal_register_of_legislation:C2018A00009
Segment Type: clause
Provision Reference: sch 5 cl 133BW
Character Range: 42008–42941

133BW  Credit provider to give effect to request to terminate credit card contract

When this section applies
 (1) This section applies if:
 (a) a consumer who is the debtor under a credit card contract has a credit card termination entitlement under the contract; and
 (b) the consumer has requested to terminate the consumer's credit card contract.

Requirement
 (2) The licensee who is the credit provider under the credit card contract must take reasonable steps to ensure that the request is given effect to as soon as practicable.
Civil penalty: 2,000 penalty units.

Offence
 (3) A person commits an offence if:
 (a) the person is subject to a requirement under subsection (2); and
 (b) the person engages in conduct; and
 (c) the conduct contravenes the requirement.
Criminal penalty: 50 penalty units.

Part 5—Application provisions

National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009