Document ID: chunk:federal_register_of_legislation:C2025C00096:section:23aa
Version: federal_register_of_legislation:C2025C00096
Segment Type: section
Provision Reference: s 23AA
Character Range: 87074–87954

23AA  Power to reopen unjust transactions
 (1) Subject to this Part, if a court is satisfied, on the application of a borrower, mortgagor or guarantor, that, in the circumstances relating to the relevant contract, mortgage or guarantee, at the time it was entered into or changed (whether or not by agreement), the contract, mortgage or guarantee or the change was unjust, the court may re‑open the transaction that gave rise to the contract, mortgage, guarantee or change.
 (2) This section does not apply to, or to a change in:
 (a) the annual percentage rate or rates of interest under a contract or mortgage or the method of calculating any such rate or rates of interest or of calculating any amount of interest under the contract or mortgage; or
 (b) an establishment fee or charge, or other fee or charge, in respect of which an application may be made under section 23F.