Commonwealth Consolidated Regulations

NATIONAL CONSUMER CREDIT PROTECTION REGULATIONS 2010 - REG 27

  (1)   This regulation is made for the following provisions of the Act:

  (a)   paragraph   113(3)(a) (credit guide of credit assistance providers for credit contracts);

  (b)   paragraph   136(3)(a) (credit guide of credit assistance providers for consumer leases).

  (2)   The information mentioned in subparagraphs   113(2)(e)(iii) and (g)(ii) and (iii), or 136(2)(e)(iii) and (g)(ii) and (iii), of the Act need not be included in the licensee's credit guide if:

  (a)   the credit guide includes a statement that the consumer may obtain information from the licensee about:

  (i)   how fees and charges payable by the consumer are worked out; and

  (ii)   a reasonable estimate of the indirect remuneration likely to be received, directly or indirectly, by the licensee and how the indirect remuneration is worked out; and

  (b)   the licensee has in place arrangements to make the information available when requested by the consumer.

Credit card contracts

  (3)   The information mentioned in subparagraphs   113(2)(g)(ii) and (iii) of the Act need not be included in the licensee's credit guide if:

  (a)   the indirect remuneration is payable in relation to a credit card contract; and

  (b)   the credit guide includes the maximum amount of indirect remuneration payable on entering into the contract; and

  (c)   if any additional indirect remuneration is payable during the life of the contract--the credit guide includes a statement that additional indirect remuneration is payable, and includes either:

  (i)   a reasonable estimate of the amount of the additional indirect remuneration; or

  (ii)   if the amount of additional indirect remuneration depends on the consumer's use of the credit card--information about factors contributing to the amount of indirect remuneration.