Small amount credit contracts will no longer be allowed to include direct debit charges. The Australian Securities and Investments Commission said the new rule would apply to new loans sold from 1 February next year.In July 2013 limits were imposed on the fees and charges that applied to small loans. Caps of 20 per cent on upfront charges and four per cent on monthly charges were applied to finance contracts worth up to A$2000 that run for less than two years.ASIC made an interim order at the time to allow third parties to charge direct debit fees.Earlier this year an independent review of small amount credit contract law recommended that direct debit fees be incorporated into the SACC fee cap.The Government supported the recommendation and ASIC has now repealed the interim order. For loans that commence from February 1, third party direct debit agencies will no longer be able to charge consumers a fee when processing a payment on a small amount loan.