Commonwealth Consolidated Acts Commonwealth Consolidated ActsWhen this section applies
(1) This section applies if a consumer who is the debtor under a credit card contract has a credit limit reduction entitlement under the contract on a day (the online reduction day ).
Requirement
(2) The licensee who is the credit provider under the credit card contract must establish and maintain a website that satisfies all of the following paragraphs:
(a) the website tells the consumer that the consumer may use the website to request a reduction in the consumer's credit limit;
(b) the website:
(i) tells the consumer what information the consumer will need to enter in order to request a reduction in the consumer's credit limit; and
(ii) provides the consumer with instructions on how to request a reduction in the consumer's credit limit;
(c) if the consumer enters the information and follows those instructions, the consumer can use the website to request a reduction in the consumer's credit limit;
(d) the website is available on the online reduction day.
Civil penalty: 5,000 penalty units.
Defence
(3) For the purposes of subsection (2), it is a defence if the website is reasonably unavailable on the online reduction day.