National Consumer Credit Protection Act 2009

A credit contract (other than a small amount credit contract) must not impose a monetary liability on the debtor:

in respect of a credit fee or charge prohibited by this Code; or

in respect of an amount of a fee or charge exceeding the amount that may be charged consistently with this Code; or

in respect of an interest charge under the contract exceeding the amount that may be charged consistently with this Code.

A penalty may be imposed for contravention of a key requirement in this subsection, but only at the time the credit contract is entered into: see Part 6.

This subsection also applies to liabilities imposed contrary to section 133BI of the National Credit Act: see subsection (7) of that section.

Any provision of a credit contract that imposes a monetary liability prohibited by subsection (1) is void to the extent that it does so. If an amount that is prohibited by subsection (1) is paid, it may be recovered.

A credit fee or charge cannot be charged in respect of a credit contract unless the contract authorises it to be charged.

If an amount that is prohibited by subsection (3) is paid, it may be recovered.