Part 1Definitions

Part 1—Definitions amending Act means the Treasury Laws Amendment (Banking Measures No. 1) Act 2018. Part 2—Credit limits 2 Application of amendments relating to credit limit increase invitations (1) The amendments of sections 133BE, 133BF and 133BG made by Division 1 of Part 2 of Schedule 5 to the amending Act apply in relation to communications given on or after the commencement of that Division in relation to credit card contracts entered into on or after that commencement. (2) The amendments also apply in relation to credit card contracts entered into before the commencement of that Division. 3 Application of sections 133BF, 133BFA, 133BFB and 133BFC of the National Credit Act (1) Sections 133BF, 133BFA, 133BFB and 133BFC of the National Credit Act, as inserted by Division 2 of Part 2 of Schedule 5 to the amending Act, apply to credit card contracts entered into on or after the commencement of that Division. (2) The sections, apart from subsections 133BF(1) and (2), also apply to credit card contracts entered into before the commencement of that Division. Part 3—When a credit card contract, or a credit limit increase, is unsuitable 4 Application of provisions about unsuitability of credit card contracts or increases in the credit limit of a credit card contract The amendments of sections 118, 119, 123, 124, 131 and 133 of the National Credit Act made by Part 1 of Schedule 5 to the amending Act apply: (a) so far as the sections apply in relation to entering a credit card contract—to credit card contracts entered into on or after the commencement of that Part; and (b) so far as the sections apply in relation to remaining in a credit card contract, or increasing the credit limit of a credit card contract: (i) to credit card contracts entered into on or after the commencement of that Part; and (ii) to credit card contracts entered into before the commencement of that Part. Part 4—Interest charges 5 Application of Division 7 of Part 3‑2B of the National Credit Act (1) Division 7 of Part 3‑2B of the National Credit Act, as inserted by Part 3 of Schedule 5 to the amending Act, applies to credit card contracts entered into on or after the commencement of Part 3 of that Schedule. (2) The Division also applies to credit card contracts entered into before the commencement of Part 3 of that Schedule. (3) However, the Division does not apply in relation to use of a credit card before the commencement of Part 3 of that Schedule. Part 5—Ending credit card contracts 6 Application of Division 8 of Part 3‑2B of the National Credit Act (1) Division 8 of Part 3‑2B of the National Credit Act, as inserted by Part 4 of Schedule 5 to the amending Act, applies to credit card contracts entered into on or after the commencement of Part 4 of that Schedule. (2) Division 8 of Part 3‑2B of the National Credit Act, apart from subsections 133BT(1) and (2), inserted by Part 4 of Schedule 5 to the amending Act, also applies to credit card contracts entered into before the commencement of Part 4 of that Schedule.