Queensland Consolidated Acts Queensland Consolidated Acts(1) A provision in a regulated contract to the effect that where the debtor makes default under the contract and the credit provider exercises a right in relation to the contract arising from the default, the debtor is, if the credit provider so determines, liable to pay to the credit provider an amount incurred or expended in the exercise of that right is void unless the provision limits the amount so payable to the reasonable amount reasonably incurred or expended by the credit provider in the exercise of that right.
(2) A credit provider shall not enter into a contract containing a provision that, because of subsection (1), is void.
Maximum penalty--40 penalty units.