Document ID: chunk:federal_register_of_legislation:C2025C00185:section:962s:p2
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 962S (pt 2/2)
Character Range: 4033257–4034697

the person contravenes subsection (3) or (4).
Note: This subsection is a civil penalty provision (see section 1317E).

Fee recipient must not accept deductions made without consent
 (6) Subject to subsection (7), if the fee recipient has arranged with the account provider, with the account holder's consent, for an amount to be deducted from the account, the fee recipient must not accept payment of the amount unless at the time the payment is made to the fee recipient all of the following are satisfied:
 (a) the consent has not been withdrawn under paragraph 962U(1)(a);
 (b) if the consent has been varied under paragraph 962U(1)(b)—the consent as varied still allows for the deduction to be made;
 (c) the consent has not ceased to have effect under section 962V.
 (7) If the account holder holds the account jointly with one or more other persons, the fee recipient must not accept the payment unless all of the paragraphs in subsection (6) are satisfied in relation to the account holder as well as each of those other persons as account holders.
 (8) A person contravenes this subsection if the person contravenes subsection (6) or (7).
Note: This subsection is a civil penalty provision (see section 1317E).
 (9) However, subsection (8) does not apply if an amount accepted in contravention of subsection (6) or (7) is repaid into the account holder's account within 10 business days of the day on which the payment was accepted.