Australian Capital Territory Consolidated Acts Australian Capital Territory Consolidated Acts(1) A person that is—
(a) a credit provider; or
(b) an agent of a credit provider authorised to receive an offer to the credit provider to enter into a credit sale contract or a loan contract; or
(c) a supplier in relation to whom a credit provider is a linked credit provider;
shall not give a person a document for signature by that person as an offer in writing to the credit provider to enter into a credit sale contract or a loan contract unless the document includes a notice that is—
(d) in the form approved under section 256 (Approved forms) for this subsection; and
(e) in the prescribed position or, in a particular case, in a position approved by the ACAT, on the document.
(2) A credit provider, agent of a credit provider or supplier that contravenes subsection (1) commits an offence.
Maximum penalty:
(a) for an individual—$1 000; and
(b) for a corporation—$5 000.
(3) A credit provider or an agent of a credit provider shall not give to a person an offer in writing signed by or on behalf of the credit provider to enter into a credit sale contract or a loan contract unless the document includes a notice that is—
(a) in the approved under section 256 (Approved forms) for this subsection; and
(b) in the prescribed position or, in a particular case, in a position approved by the ACAT, on the document.
(4) A credit provider or an agent of a credit provider that contravenes subsection (3) commits an offence.
Maximum penalty:
(a) for an individual—$1 000; and
(b) for a corporation—$5 000.
(5) If—
(a) a credit provider; or
(b) an agent of a credit provider authorised to receive an offer to the credit provider to enter into a credit sale contract or a loan contract; or
(c) a supplier in relation to whom a credit provider is a linked credit provider;
gives to a person a document for signature by that person as an offer in writing to the credit provider to enter into a credit sale contract or a loan contract, the credit provider, agent or supplier, as the case may be, shall, before that person signs the document, also give to that person a true copy of the document for his or her own use certified by the credit provider, agent or supplier as a true copy of the document.
(6) A credit provider, agent of a credit provider or supplier that fails to comply with subsection (5) commits an offence.
Maximum penalty:
(a) for an individual—$1 000; and
(b) for a corporation—$5 000.
(7) If a credit provider or an agent of a credit provider gives to a person an offer in writing signed by or on behalf of the credit provider to enter into a credit sale contract or a loan contract, the credit provider or agent shall, before that person accepts the offer, also give to that person for his or her own use a true copy of the offer certified by the credit provider or agent as a true copy of the offer.
(8) A credit provider or an agent of a credit provider that fails to comply with subsection (7) commits an offence.
Maximum penalty:
(a) for an individual—$1 000; and
(b) for a corporation—$5 000.
(9) If a person signs a document and thereby offers to enter into, or enters into, a credit sale contract or a loan contract, any subsequent alteration of, or addition to, the terms and conditions of the contract is of no force or effect unless, after the alteration or addition has been made, that person has, opposite the alteration or addition, signed or initialled the margin of—
(a) the document in which the terms and conditions of the contract are specified; and
(b) the copy of the document given to him or her under subsection (5) or (7).
(10) If a person signs a document and thereby offers to enter into, or enters into, a credit sale contract or a loan contract—
(a) the credit provider; or
(b) an agent of the credit provider authorised to make or receive the offer to enter into the contract; or
(c) a supplier in relation to whom the credit provider is a linked credit provider;
shall not alter or add to the terms and conditions specified in the document with intent to deceive the debtor or, if the alteration or addition is made by the supplier, with intent to deceive the credit provider, whether or not the document in which those terms and conditions are specified has been signed or initialled as provided in subsection (9).
(11) A credit provider, agent or supplier that contravenes subsection (10) commits an offence.
Maximum penalty:
(a) for an individual—$1 000; and
(b) for a corporation—$5 000.
(12) In this section:
"offer in writing" includes a document that, if signed by or on behalf of the credit provider and the debtor, would be a credit sale contract or a loan contract.