Australian Capital Territory Consolidated Acts Australian Capital Territory Consolidated Acts(1) If, in accordance with a provision in a continuing credit contract, the credit provider exercises a right under the contract to vary the operation of the contract (other than a right exercised at the request of the debtor), the variation does not have effect—
(a) for a variation that increases the credit charge under the contract, or increases the amount of, or abridges the time for payment of, the amount standing to the debit of the account—until a period that is not shorter than 2 billing cycles has ended after notice of the variation has been given to the debtor in writing; or
(b) for any other variation—until a period of at least 7 clear days or, if the contract provides for a longer period of notice of the variation, that longer period has ended after notice of the variation has been given to the debtor in writing.
(2) If notice of the variation of a provision in a continuing credit contract is given in a common form by the credit provider and posted by bulk postage, the notice of the variation shall be deemed to have been given 21 days after the date when the last of the bulk postages was made.