28854 (2025). Arena Williams to the Minister of Commerce and Consumer Affairs

28854 (2025). Arena Williams to the Minister of Commerce and Consumer Affairs: Is the Minister introducing retrospective legislation to amend Section 99 (1A) of the Credit Contracts and Consumer Finance Act 2003 because his statutory interpretation is that it currently allows consumers to avoid interest charges "for the period of the entire loan" in the event of a mistake by a bank during a specific period of the loan?

Hon Scott Simpson: No. The Act only provides that a borrower is not liable for the costs of borrowing over a period of a lender's non-compliance with section 17 or 22.