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NATIONAL CONSUMER CREDIT PROTECTION ACT 2009 - SECT 334

Contracting out etc.

  (1)   A provision of a contract or other instrument by which a person seeks to avoid or modify the effect of this Act (other than the National Credit Code) is void.

Note:   A similar rule applies for the purposes of the National Credit Code (see section   191 of that Code).

  (2)   A provision of a contract or other instrument by which a person seeks to have:

  (a)   a debtor indemnify a credit provider; or

  (b)   a mortgagor indemnify a mortgagee; or

  (c)   a guarantor indemnify a beneficiary of a guarantee; or

  (d)   a lessee indemnify a lessor;

for any loss or liability arising under this Act (other than the National Credit Code) is void.

Note:   A similar rule applies for the purposes of the National Credit Code (see section   191 of that Code).

  (3)   A person commits an offence if:

  (a)   the person is a credit provider, mortgagee, beneficiary of a guarantee or lessor; and

  (b)   the person is a party to a contract or other instrument; and

  (c)   the contract or other instrument is void under subsection   (1) or (2).

Criminal penalty:   100 penalty units.

  (4)   Subsection   (3) is an offence of strict liability:

Note:   For strict liability, see section   6.1 of the Criminal Code .

  (5)   Subsection   (2) does not affect the operation of subsection   60(2) of the National Credit Code.


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