Commonwealth Consolidated Regulations

NATIONAL CONSUMER CREDIT PROTECTION REGULATIONS 2010 - REG 62

  (1)   The Code does not apply to the provision of credit under a charge card contract made available by any of the following credit providers:

  (a)   American Express Australia Limited ACN 108   952   085;

  (b)   American Express International Inc. ARBN 000   618   208;

  (c)   Diners Club Pty Limited ACN 004   343   051;

  (d)   Motorcharge Limited ACN 008   962   132.

Examples:

1   American Express Platinum Card.

2   Diners Club Personal Card.

3   Motorcharge Card.

  (2)   In subsection   (1):

"charge card contract" means a credit contract under which:

  (a)   credit is ordinarily obtained by the use of a card; and

  (b)   multiple advances of credit are contemplated; and

  (c)   the provision of an advance of credit is limited to a total period of not more than 62 days; and

  (d)   monthly or other periodic statements of account are provided to the debtor; and

  (e)   liquidated damages or charges for late payment are payable by the debtor if the debtor does not repay an advance of credit mentioned in a monthly or other periodic statement of account within a stated period.

Note:   Subsection   6(13) of the Code provides that the regulations may exclude the provision of credit of any class from the Code.