Sch 1 (National Credit Code), s 21
In forceWhen debtor may terminate contract
Volume 1Chapters 1 to 6 (sections 1 to 322)
Schedule 1National Credit Code
Part 5-2Documents lodged with, or information given or provided to, ASIC or required by this Act
Division 4Other provisions relating to documents lodged with ASIC or required under this Act
21 When debtor may terminate contract
(1)
Although a credit contract has been made, the debtor may nevertheless, by written notice to the credit provider, terminate the contract unless:
(a)
any credit has been obtained under the contract; or
(b)
a card or other means of obtaining credit provided to the debtor by the credit provider has been used to acquire goods or services for which credit is to be advanced under the contract.
(2)
Nothing in this section prevents the credit provider from retaining or requiring payment of fees or charges incurred before the termination and which would have been payable under the credit contract.
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