Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies if a consumer who is the debtor under a credit card contract has a credit card termination entitlement under the contract on a day (the online termination day ).
(2) The licensee who is the credit provider under the credit card contract must establish and maintain a website that satisfies all of the following paragraphs:
(a) the website tells the consumer that the consumer may use the website to request to terminate the credit card contract;
(i) tells the consumer what information the consumer will need to enter in order to request to terminate the credit card contract; and
(ii) provides the consumer with instructions on how to request to terminate the credit card contract;
(c) if the consumer enters the information and follows those instructions, the consumer can use the website to request to terminate the credit card contract;
(d) the website is available on the online termination day.
Civil penalty: 5,000 penalty units.
(3) For the purposes of subsection (2), it is a defence
if the website is reasonably unavailable on the online termination day.