12BITerms that define main subject matter of consumer contracts or small business contracts etc. are unaffected

#### 12BI Terms that define main subject matter of consumer contracts or small business contracts etc. are unaffected (1) Section 12BF does not apply to a term of a contract to the extent, but only to the extent, that: (a) the term defines the main subject matter of the contract; or (b) the term sets the upfront price payable under the contract; or (c) the term is required, or expressly permitted, by a law of the Commonwealth or of a State or Territory; or (d) the term is included in the contract, or is taken to be so included, by operation of a law of the Commonwealth, or of a State or Territory, that regulates the contract; or (e) inclusion of the term has either or both of the following results: (i) one or more other terms are included in the contract, or are taken to be so included, by operation of a law of the Commonwealth, or of a State or Territory, that regulates the contract; (ii) such a law requires one or more other terms to be included in the contract; or (f) if the contract is an Insurance Contracts Act insurance contract—the term is a transparent term and: (i) is disclosed at or before the time when the contract is made; and (ii) sets an amount of excess or deductible under the contract. (2) The upfront price payable under a contract is the consideration that: (a) is provided, or is to be provided, for the supply under the contract; and (b) is disclosed at or before the time the contract is entered into; but does not include any other consideration that is contingent on the occurrence or non‑occurrence of a particular event. (3) To avoid doubt, if a contract is a contract under which credit is provided or is to be provided, the consideration referred to in subsection (2) of this section includes the total amount of principal that is owed under the contract. (4) For the purposes of applying paragraph (1)(a) to an Insurance Contracts Act insurance contract, have regard to the main subject matter of the contract only to the extent that it describes what is being insured.