Document ID: chunk:federal_register_of_legislation:F2024N00515:body:0:p2
Version: federal_register_of_legislation:F2024N00515
Segment Type: other
Provision Reference: 
Character Range: 2693–5401

Platinum Card, a David Jones American Express Card or a David Jones Storecard.

       Part 2—Exemption

5 Exemption from Part 7.8A in relation to New Cards (Pre DDO)
(1) Latitude Finance does not have to comply with Part 7.8A of the Act in relation to offering or entering into a New Card (Pre DDO).

Where exemption applies
(2) Subject to paragraph 6, the exemption in subparagraph 5(1) applies in relation to the offering of or entering into by Latitude Finance of a credit contract with a consumer where the credit contract is a New Card (Pre DDO).
(3) If, immediately before the day on which Latitude Finance sends offers to consumers in connection with a New Card (Pre DDO), a consumer:
           (a) has been in default under an AMEX David Jones Card for 90 days or more; or
           (b) has an agreement with AMEX Australia for changes to be made to the existing credit contract as a result of hardship notice or hardship application under section 72 of the National Credit Code,
the exemptions in subparagraph 5(1) only apply in relation to the entry into the New Card (Pre DDO) with the consumer if under the terms of the New Card (Pre DDO) the consumer will not be able to access or draw down credit to incur a liability under the contract until the consumer is able to meet their obligations under the contract.

6 Condition

    If Latitude Finance relies on the exemption in subparagraph 5(1), Latitude Finance must:

       (1)          provide the following information to the consumer at the same time as any offer or invitation to apply is made to the consumer in relation to a New Card (Pre DDO):

           (a)          a statement that the consumer may accept the offer by 'activating' the card (which may include activating the physical card or adding the card electronically to a digital wallet or by the consumer approving the activation of an additional cardholder's card with a one time pin (or similar code)); and

           (b)          a statement that the making of a payment under a direct debit or other third party recurring debit arrangement using the credit card issued under the AMEX David Jones Card will not constitute acceptance of the offer or result in entry into a credit contract with Latitude Finance; and

           (c)          a statement that recurring debit arrangements with retailers will stop working when the credit card issued under the AMEX David Jones Card is cancelled and information will be provided to the consumer about how to update or reestablish equivalent debit arrangements under the New Card (Pre DDO); and

           (d)          details of who the consumer should contact if the consumer suffers loss or damage after a New Card (Pre