Document ID: chunk:federal_register_of_legislation:F2025L00303:clause:1_69g
Version: federal_register_of_legislation:F2025L00303
Segment Type: clause
Provision Reference: sch 1 cl 69G
Character Range: 10147–11422

69G  Meaning of low cost credit contract—fees or charges
 (1) For the purposes of paragraph 13E(1)(d) of the Code, this regulation prescribes requirements relating to fees or charges that are, or may be, payable under a contract (the relevant contract) entered into, or to be entered into, between a credit provider and a debtor.
 (2) The fees or charges that are, or may be, payable under the relevant contract satisfy the requirements in this regulation if those fees or charges could not result in a breach of a cap applicable under this regulation to the credit provider and the debtor in a fee period.
Note: For the definition of fee period, see subregulation (4).
 (3) A breach of a cap applicable to the credit provider and the debtor in a fee period occurs if the sum of all the fees or charges of a kind specified in column 1 of an item of the following table that become payable in the fee period under:
 (a) the relevant contract; and
 (b) any other low cost credit contract between the credit provider and the debtor;
exceeds the cap determined for that kind of fees or charges for the fee period under column 2 of that table item.

Item  Column 1                                            Column 2

      Kind of fees or charges                             Cap