New South Wales Consolidated Acts

CREDIT ACT 1984 - SECT 47

47 Tribunal may determine reasonable fees etc

(1) Where a credit provider enters into a credit sale contract or a loan contract that includes a statement of:

(a) the amount of fees payable to an Australian legal practitioner authorised to prepare documents for the contract or for a mortgage entered into in relation to the contract,

(b) the amount of any charge prescribed for the purposes of clause 1 (g) of Schedule 2 or clause 1 (d) of Schedule 4, or

(c) the value of any consideration of a kind prescribed for the purposes of clause 1 (i) of Schedule 2 or clause 1 (f) of Schedule 4,

and the debtor claims that the amount or value is not a reasonable amount or value the debtor may apply to the Tribunal for determination of the amount or value.

(2) Where an application is made under subsection (1), the Tribunal shall:

(a) determine the amount or value and make such orders as are necessary to give effect to its determination, or

(b) dismiss the application.

(3) Where the Tribunal makes a determination under this section in relation to a credit sale contract or a loan contract, the contract as varied in accordance with the determination shall be deemed not to fail to comply with section 35 or 36 by reason only of the determination.