Commonwealth Consolidated Acts

NATIONAL CONSUMER CREDIT PROTECTION ACT 2009 - SECT 122

Requirement not to profit

  (1)   If, in the course of providing credit assistance to a consumer in relation to a credit contract, a licensee pays an amount (the third party amount ) to another person on behalf of the consumer, the licensee must not request or demand payment of an amount, as reimbursement for the third party amount, that exceeds the third party amount.

Civil penalty:   5,000 penalty units.

Offence

  (2)   A person commits an offence if:

  (a)   the person is subject to a requirement under subsection   (1); and

  (b)   the person engages in conduct; and

  (c)   the conduct contravenes the requirement.

Criminal penalty:   6 months imprisonment.