Queensland Consolidated Acts

CREDIT ACT 1987 - SECT 21B

(1) Except as otherwise provided by this section, this Act continues to apply to--

(a) a continuing credit contract entered into before the commencement of this section, but only in respect of anything done or omitted to be done before the commencement; and

(b) a credit contract of another kind entered into before the commencement in respect of anything done or omitted to be done, whether before or after the commencement; and

(c) a mortgage or guarantee relating to a continuing credit contract mentioned in paragraph (a), but only in respect of anything done or omitted to be done before the commencement; and

(d) a mortgage or guarantee relating to a credit contract mentioned in paragraph (b) in respect of anything done or omitted to be done, whether before or after the commencement.

(2) If the credit provider, under a contract to which this Act continues to apply, acts in accordance with the Consumer Credit (Queensland) Code, section 34, 35, 66 to 69, part 5 (except sections 75 to 77), 163, 171, 172 or 173, the credit provider is taken to have acted in accordance with the corresponding provision of this Act.

(3) Despite anything to the contrary in subsection (2), section 113(1)(b) continues to apply in respect of goods subject to a regulated mortgage.