Document ID: chunk:federal_register_of_legislation:F2024C00882:reg:28lba
Version: federal_register_of_legislation:F2024C00882
Segment Type: reg
Provision Reference: reg 28LBA
Character Range: 184528–185532

28LBA  Key Facts Sheets for credit card contracts
 (1) For the purposes of section 133BB of the Act, Schedule 6 sets out:
 (a) the Key Facts Sheet for a credit card contract; and
 (b) requirements for how the information in a Key Facts Sheet is to be prepared.
 (2) A Key Facts Sheet is taken to comply with Schedule 6 if:
 (a) it does not refer to a term or condition that is, or may, only be available to a particular class of consumer; and
 (b) the term or condition does not cause the consumers in that class to be worse off than they would be under the terms and conditions described in the Key Facts Sheet.
Example: A licensee makes a special promotional offer to customers who have a home loan with the licensee. The terms and conditions of the credit card contract under the offer are more advantageous than the terms and conditions of the credit card contract as described in the Key Facts Sheet.
 It would be difficult to provide a new Key Facts Sheet for each promotional offer of this kind.