Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A provision of a contract or other instrument by which a person seeks to avoid or modify the effect of this Act (other than the National Credit Code) is void.
Note: A similar rule applies for the purposes of the National Credit Code (see section 191 of that Code).
(2) A provision of a contract or other instrument by which a person seeks to have:
(a) a debtor indemnify a credit provider; or
(b) a mortgagor indemnify a mortgagee; or
(c) a guarantor indemnify a beneficiary of a guarantee; or
(d) a lessee indemnify a lessor;
for any loss or liability arising under this Act (other than the National Credit Code) is void.
Note: A similar rule applies for the purposes of the National Credit Code (see section 191 of that Code).
(3) A person commits an offence if:
(a) the person is a credit provider, mortgagee, beneficiary of a guarantee or lessor; and
(b) the person is a party to a contract or other instrument; and
(c) the contract or other instrument is void under subsection (1) or (2).
Criminal penalty: 100 penalty units.
(4) Subsection (3) is an offence of strict liability:
Note: For strict liability, see section 6.1 of the Criminal Code .
(5) Subsection (2) does not affect the operation of subsection 60(2) of the National Credit Code.