A person is neither liable to proceedings, nor subject to a liability, merely because the person has complied, or proposes to comply, with a requirement made, or purporting to have been made, under this Chapter.
321 Effect of this Chapter
(1) Except as expressly provided, nothing in this Chapter limits the generality of anything else in this Chapter.
(2) The functions and powers that this Chapter confers are in addition to, and do not derogate from, any other function or power conferred by a law of the Commonwealth, a State or a Territory.
322 Enforcement of undertakings
(1) ASIC may accept a written undertaking given by a person in connection with a matter in relation to which ASIC has a function or power under the Commonwealth credit legislation.
(2) The person may withdraw or vary the undertaking at any time, but only with ASIC’s consent.
(3) If ASIC considers that the person who gave the undertaking has breached any of its terms, ASIC may apply to the court for an order under subsection (4).
(4) If the court is satisfied that the person has breached a term of the undertaking, the court may make all or any of the following orders:
(a) an order directing the person to comply with that term of the undertaking;
(b) an order directing the person to pay to the Commonwealth an amount up to the amount of any financial benefit that the person has obtained directly or indirectly and that is reasonably attributable to the breach;
(c) any order that the court considers appropriate directing the person to compensate any other person who has suffered loss or damage as a result of the breach;
(d) any other order that the court considers appropriate.
Commonwealth Coat of Arms of Australia
National Consumer Credit Protection Act 2009
No. 134, 2009
Compilation No. 50
Compilation date: 10 June 2025
Includes amendments: Act No. 138, 2024
This compilation is in 2 volumes
Volume 1: sections 1–322
Volume 2: sections 323–337
Schedule 1
Endnotes
Each volume has its own contents
About this compilation
This compilation
This is a compilation of the National Consumer Credit Protection Act 2009 that shows the text of the law as amended and in force on 10 June 2025 (the compilation date).
The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.
Uncommenced amendments
The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.
Application, saving and transitional provisions for provisions and amendments
If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.
Editorial changes
For more information about any editorial changes made in this compilation, see the endnotes.
Modifications
If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law.
Self‑repealing provisions
If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.
Contents
Chapter 7—Miscellaneous
Part 7‑1—Miscellaneous
Division 1—Introduction
323 Guide to this Part
Division 1A—Avoidance schemes
323A Schemes for avoidance purposes
323B Whether it is reasonable to draw conclusion as to purpose
323C Presumption of avoidance for certain schemes in civil cases
323D Exemption by ASIC
Division 2—Liability of persons for conduct of their agents etc.
324 Liability for bodies corporate for conduct of their agents, employees etc.
325 Liability of persons (other than bodies corporate) for the conduct of their agents, employees etc.
326 Regulations for the purposes of this Division
Division 3—Review of ASIC’s decisions
327 Review by Administrative Review Tribunal of decisions by ASIC under this Act
328 Notice of reviewable decision and review rights
Division 4—Regulations
329 Regulations
330 Regulations—where proceedings may be brought
Division 5—Other miscellaneous provisions
331 Giving information or documents in connection with low cost credit contracts
332 Civil penalty provisions contravened or offences committed partly in and partly out of this jurisdiction
333 Contravention of Act does not generally affect validity of transactions etc.
334 Contracting out etc.
335 Indemnities
336 Acquisition of property
337 Minister may delegate prescribed functions and powers under this Act
Schedule 1—National Credit Code
Part 1—Preliminary
1 Short title
2 Interpretation generally
3 Meaning of credit and amount of credit
4 Meaning of credit contract
5 Provision of credit to which this Code applies
6 Provision of credit to which this Code does not apply
7 Mortgages to which this Code applies
8 Guarantees to which this Code applies
9 Goods leases with option to purchase to be regarded as sale by instalments
10 Deciding application of Code to particular contracts for the sale of land by instalments
11 Deciding application of Code to particular contracts for the sale of goods by instalments
12 Deciding application of Code to particular contracts for the sale of goods by instalments under related contracts
13 Presumptions relating to application of Code
13A Reverse mortgages
Part 1A—Extending the application of this Code
13B Application of this Code to buy now pay later contracts
13C Application of this Code to low cost credit contracts
13D Meaning of buy now pay later arrangement and buy now pay later contract
13E Meaning of low cost credit contract
Part 2—Credit contracts
Division 1—Negotiating and making credit contracts
14 Credit contract to be in form of written contract document
15 Other forms of contract
16 Precontractual disclosure
17 Matters that must be in contract document
18 Form and expression of contract document
18A Provisions that must not be included in credit contract for reverse mortgage
18B Disclosure if credit contract for reverse mortgage does not protect tenancy of person other than debtor
18C Independent legal advice before entry into credit contract for reverse mortgage