Victorian Consolidated Legislation

Credit Act 1984 - SECT 86A

Payments to Consumer Credit Fund

86A. Payments to Consumer Credit Fund



(1) If the Tribunal makes a determination referred to in section 86(1)(a), (b)
or (c), it may, in an order under section 85 or by an order under this section
(whether or not it has made an order under section 85), direct that each
debtor is to remain liable to pay the whole of the credit charge under the
relevant regulated contract but that the credit provider is to pay into the
Consumer Credit Fund established under Part 5A of the
Credit (Administration) Act 1984 such amount as the Tribunal may determine,
having regard to the number of contracts to which the determination relates.

(2) If it is necessary to do so, the Tribunal may, for the purposes of this
section, make an estimate of the number of contracts to which such a
determination relates.

(3) A direction under this section may not be given unless the Tribunal is
satisfied that it would be unreasonable (whether because of the number of
contracts concerned or otherwise) to require the credit provider to adjust the
debtor's accounts, or to refund money to the debtors, to give effect to any
reduction in liability that would occur if the credit charges were reduced.

(4) A direction under this section may be given in respect of all regulated
contracts to which the application for the determination relates or in respect
of some only of those contracts.