Credit provider not to suggest the consumer not terminate the credit card contract
133BV Credit provider not to suggest the consumer not terminate the credit card contract
When this section applies
This section applies if:
a consumer who is the debtor under a credit card contract has a credit card termination entitlement under the contract; and
the consumer has requested to terminate the credit card contract.
Requirement
The licensee who is the credit provider under the credit card contract must not suggest that the consumer remain in the credit card contract.
Civil penalty: 5,000 penalty units.
Offence
A person commits an offence if:
the person is subject to a requirement under subsection (2); and
the person engages in conduct; and
the conduct contravenes the requirement.
Criminal penalty: 50 penalty units.
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