Australian Capital Territory Consolidated Acts

CREDIT ACT 1985 - SECT 103

    (1)     For this part, a reference to the net balance due to a credit provider at a particular time—

        (a)     in relation to a regulated credit sale contract or a regulated loan contract—is a reference to the amount that, at that time, is the sum of—

              (i)     the amount financed; and

              (ii)     the accrued credit charge; and

              (iii)     the deferral charges (if any) charged in accordance with part 3; and

              (iv)     the default charges (if any) charged in accordance with part 3; and

              (v)     the enforcement expenses (if any);

less any payments received by the credit provider in relation of the contract and (if the relevant insurance and maintenance contracts are discharged) the amounts of any statutory rebates of insurance charges and maintenance charges; and

        (b)     in relation to a regulated continuing credit contract—is reference to the amount owed under the contract by the debtor to the credit provider at that time less (if the relevant insurance and maintenance contracts are discharged) the amounts of any statutory rebates of insurance charges and maintenance charges.

    (2)     For this part, a reference to the outstanding balance of an amount, charge or expense is a reference to the part of that amount, charge or expense that, at a particular time, is owed but unpaid, whether or not the whole or any part of the amount is due.