Commonwealth Numbered Regulations

NATIONAL CONSUMER CREDIT PROTECTION REGULATIONS 2010 (SLI NO 44 OF 2010) - REG 62

         (1)   The Code does not apply to the provision of credit under a charge card contract made available by any of the following credit providers:

                (a)    American Express Australia Limited ACN 108 952 085;

               (b)    American Express International Inc. ARBN 000 618 208;

                (c)    Diners Club Pty Limited ACN 004 343 051;

               (d)    Motorcharge Limited ACN 008 962 132.

Examples

1   American Express Platinum Card.

2   Diners Club Personal Card.

3   Motorcharge Card.

         (2)   In subsection (1):

charge card contract means a credit contract under which:

                (a)    credit is ordinarily obtained by the use of a card; and

               (b)    multiple advances of credit are contemplated; and

                (c)    the provision of an advance of credit is limited to a total period of not more than 62 days; and

               (d)    monthly or other periodic statements of account are provided to the debtor; and

                (e)    liquidated damages or charges for late payment are payable by the debtor if the debtor does not repay an advance of credit mentioned in a monthly or other periodic statement of account within a stated period.

Note    Subsection 6 (13) of the Code provides that the regulations may exclude the provision of credit of any class from the Code.