Section 43 — Credit Contracts and Consumer Finance Act 2003: Prepayment fees

43 Prepayment fees (1) A fee or charge payable on a part prepayment under a consumer credit contract is unreasonable if, and only if, it exceeds a reasonable estimate of the creditor's loss arising from the part prepayment, including the creditor's average reasonable administration costs arising from part prepayments under consumer credit contracts of the appropriate class. (2) A fee or charge payable on a full prepayment of a consumer credit contract (other than a fee relating to administrative costs) is unreasonable if, and only if, it exceeds a reasonable estimate of the creditor's loss arising from the full prepayment as calculated in accordance with section 54 . Compare: Consumer Credit Code s 72(4) (Appendix to Consumer Credit (Queensland) Act 1994 (Queensland))