Sch 1 (National Credit Code), s 179GA
In forceLimit on amount that may be recovered if there is default under a consumer lease
Volume 2Chapter 7 (sections 323 to 337), Schedule 1, Endnotes
Chapter 7Miscellaneous
Part 7-1Miscellaneous
Division 4Regulations
179GA Limit on amount that may be recovered if there is default under a consumer lease
(1)
If there is a default in payment under a consumer lease and the regulations prescribe a way of working out a limit on the amount that may be recovered for the default, the lessor must not recover more than the limit for the default.
Civil penalty: 5,000 penalty units.
(2)
Any provision of the lease that confers a greater right is void to the extent that it does so. If an amount is in fact recovered in excess of this limitation, it may be recovered back.
(3)
This section does not apply to enforcement expenses.
Note:
Section 179R deals with enforcement expenses.
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