Australian Capital Territory Consolidated Acts Australian Capital Territory Consolidated ActsIf, under this Act, the liability of a debtor to a credit provider is reduced—
(a) the amount of the reduction shall be set off against amounts that, apart from the reduction, would become payable by the debtor to the credit provider; and
(b) if the amount of the reduction exceeds the amount that the debtor, apart from the reduction, would have become liable to pay to the credit provider, the amount of the excess is a debt payable by the credit provider to the debtor.