Queensland Consolidated Acts Queensland Consolidated Acts(1) This section applies if a maximum annual percentage rate is prescribed for a credit contract or class of credit contract under section 14(1) after the commencement of this section.
(2) A regulation may provide that the prescribed maximum annual percentage rate applies to a credit contract entered into before the day the maximum annual percentage rate is prescribed if, after the day--
(a) the interest charges or credit fees or charges under the credit contract are increased, or a new fee or charge is imposed, whether or not the increase is made, or a new fee or charge is imposed, under the contract; or
(b) the period of the credit contract is extended, whether or not under the contract, other than under section 66 of the Code.