Queensland Bills Queensland Bills[Index] [Search] [Download] [Related Items] [Help]
This is a Bill, not an Act. For current law, see the Acts databases.
Queensland
STATE HOUSING
AMENDMENT BILL 2000
Queensland
STATE HOUSING AMENDMENT
BILL 2000
TABLE OF PROVISIONS
Section Page
1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
2 Commencement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
3 Act amended . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
4 Amendment of s 4 (Definitions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
5 Replacement of s 10A (Power of delegation) . . . . . . . . . . . . . . . . . . . . . . . . 4
10A Delegation of chief executive's powers . . . . . . . . . . . . . . . . . . . . . . . 5
6 Insertion of new s 30AA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
30AA Criminal Code does not apply in certain circumstances . . . . . . . . . 5
7 Insertion of new ss 32AA and 32AB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
32AA Declaration of standard interest rates . . . . . . . . . . . . . . . . . . . . . . . . . 5
32AB Interest rates for certain advances and contracts of sale . . . . . . . . . 6
8 Amendment of s 32A (Interest rates payable by borrowers and
purchasers in respect of certain advances and contracts of sales,
determined by Minister) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
2000
A BILL
FOR
An Act to amend the State Housing Act 1945
s1 4 s5
State Housing Amendment
The Parliament of Queensland enacts-- 1
title 2
Short
Clause 1. This Act may be cited as the State Housing Amendment Act 2000. 3
4
Commencement
Clause 2. This Act commences on a day to be fixed by proclamation. 5
amended 6
Act
Clause 3. This Act amends the State Housing Act 1945. 7
of s 4 (Definitions) 8
Amendment
Clause 4. Section 4(1)-- 9
insert-- 10
` "standard fixed interest rate" means the standard fixed interest rate 11
declared by the Minister under section 32AA(1). 12
"standard interest rate" means-- 13
(a) the standard fixed interest rate; or 14
(b) the standard variable interest rate. 15
"standard interest rate policy" see section 32AA(2). 16
"standard variable interest rate" means the standard variable interest rate 17
declared by the Minister under section 32AA(1).'. 18
of s 10A (Power of delegation) 19
Replacement
Clause 5. Section 10A-- 20
omit, insert-- 21
s6 5 s7
State Housing Amendment
of chief executive's powers 1
`Delegation
`10A.(1) The chief executive may delegate the chief executive's powers 2
under this Act to an appropriately qualified person. 3
`(2) A delegation of a power may permit the subdelegation of the power 4
to an appropriately qualified person. 5
`(3) In this section-- 6
"appropriately qualified" includes having the qualifications, experience or 7
standing appropriate to exercise the power. 8
9
Example of `standing'--
10
A person's classification level in a department.'.
of new s 30AA 11
Insertion
Clause 6. After section 30-- 12
insert-- 13
Code does not apply in certain circumstances 14
`Criminal
`30AA. A person does not commit an offence against the Criminal Code, 15
section 89,1 merely because the person-- 16
(a) is a public service employee who is employed by the department 17
or commission; and 18
(b) enters into a contract or agreement with the commission under 19
parts 3, 4, 4A or 5 of this Act.'. 20
of new ss 32AA and 32AB 21
Insertion
Clause 7. After section 32-- 22
insert-- 23
of standard interest rates 24
`Declaration
`32AA.(1) The Minister may, by publishing a notice in a newspaper 25
circulating generally throughout Queensland, declare from time to time the 26
1 Criminal Code, section 89 (Public officers interested in contracts)
s7 6 s7
State Housing Amendment
standard fixed interest rate or the standard variable interest rate. 1
`(2) The declaration must be consistent with the policy (the "standard 2
interest rate policy") about setting standard interest rates prescribed under 3
a regulation. 4
rates for certain advances and contracts of sale 5
`Interest
`32AB.(1) This section applies to-- 6
(a) an advance, the application for which was made to the 7
commission on or after the commencement of the State Housing 8
Amendment Act 2000; or 9
(b) a contract of sale, the application for which was made to the 10
commission on or after the commencement of the State Housing 11
Amendment Act 2000. 12
`(2) For the advance, interest is payable on the unpaid balance at the rate 13
stated in the document executed by the commission and the borrower that 14
states the terms of the advance. 15
`(3) For the contract of sale, interest is payable on the unpaid balance at 16
the rate stated in the contract of sale. 17
`(4) The rate must be expressed-- 18
(a) by reference to a standard interest rate; or 19
(b) as a formula that refers to a standard interest rate. 20
21
Examples for subsection (4)--
22
Example 1--
23
The document executed by the commission and the borrower states
24
that--
25
(a) for the first year of the advance, interest is payable on the
26
unpaid balance at the standard fixed rate applicable on the day
27
the document is executed; and
28
(b) after the first year of the advance, interest is payable on the
29
unpaid balance at the standard variable rate.
30
Example 2--
31
The document executed by the commission and the borrower states
32
that--
s8 7 s8
State Housing Amendment
1
(a) subject to paragraph (b), for the first year of the advance,
2
interest is payable on the unpaid balance of the loan at the
3
standard variable rate; and
4
(b) despite any increase in the standard variable rate during that
5
year the rate payable by the borrower will not be more than a
6
rate equal to the standard variable rate applying on the day the
7
document is executed plus 2%; and
8
(c) after the first year of the advance, interest is payable on the
9
unpaid balance of the advance at the standard variable rate.
`(5) To remove doubt, it is declared that a change in a standard interest 10
rate does not affect an advance made before the change or a contract of sale 11
entered into before the change to the extent that-- 12
(a) for the advance, the change is inconsistent with the terms of the 13
advance stated in the document executed by the commission and 14
the borrower; or 15
(b) for the contract of sale, the change is inconsistent with the terms 16
of the contract of sale agreed to between the commission and the 17
borrower.'. 18
of s 32A (Interest rates payable by borrowers and 19
Amendment
purchasers in respect of certain advances and contracts of sales, 20
determined by Minister) 21
Clause 8. Section 32A, before `interest'-- 22
insert-- 23
`but before the commencement of the State Housing Amendment 24
Act 2000,'. 25
© State of Queensland 2000
[Index] [Search] [Download] [Related Items] [Help]