Australian Capital Territory Consolidated Acts

CREDIT ACT 1985 - SECT 75

    (1)     An agreement entered into by a credit provider under which a debtor agrees to pay to, or on behalf of, the credit provider any costs, fees or charges incidental to, or relating to—

        (a)     the provision of credit under a regulated contract; or

        (b)     guaranteeing or securing repayment of any such credit; or

        (c)     negotiations for the provision of any such credit or for guaranteeing or securing repayment of any such credit;

(other than costs, fees or charges permitted by this Act to be included as part of the amount financed under a regulated credit sale contract or a regulated loan contract or as part of the amount owing under a regulated continuing credit contract) is void.

    (2)     Any amount that, notwithstanding subsection (1), is paid by a debtor to a credit provider in accordance with an agreement referred to in subsection (1) is recoverable by the debtor from the credit provider as a debt.

    (3)     A credit provider that enters into an agreement that is void because of subsection (1) commits an offence.

Maximum penalty:

        (a)     for an individual—$2 000; and

        (b)     for a corporation—$10 000.