s 145
In forceNo profiting from fees etc. paid to third parties
Volume 1Chapters 1 to 6 (sections 1 to 322)
Chapter 3Responsible lending conduct
Part 3-2BLicensees that are credit providers under credit contracts: additional rules relating to credit card contracts
Division 4Offers etc. to increase, and entitlement to reduce, credit limit of credit card contract
145 No profiting from fees etc. paid to third parties
Requirement not to profit
(1)
If, in the course of providing credit assistance to a consumer in relation to a consumer lease, a licensee pays an amount (the third party amount) to another person on behalf of the consumer, the licensee must not request or demand payment of an amount, as reimbursement for the third party amount, that exceeds the third party amount.
Civil penalty: 5,000 penalty units.
Offence
(2)
A person commits an offence if:
(a)
the person is subject to a requirement under subsection (1); and
(b)
the person engages in conduct; and
(c)
the conduct contravenes the requirement.
Criminal penalty: 6 months imprisonment.
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