Queensland Consolidated Acts

CONSUMER CREDIT CODE

Being the Appendix to the Consumer Credit (Queensland) Act 1994

TABLE OF PROVISIONS

           Contents

           Part 1--Preliminary

   1.      Short title
   2.      Commencement
   3.      Interpretation generally
   4.      Meaning of credit and amount of credit
   5.      Meaning of credit contract
   6.      Provision of credit to which this Code applies
   7.      Provision of credit to which this Code does not apply
   8.      Mortgages to which this Code applies
   9.      Guarantees to which this Code applies
   10.     Goods leases with option to purchase to be regarded as sale by instalments
   11.     Presumptions relating to application of Code

           Part 2--Credit contracts

           Division 1--Negotiating and making credit contracts

   12.     Credit contract to be in form of written contract document
   13.     Other forms of contract
   14.     Precontractual disclosure
   15.     Matters that must be in contract document
   16.     Form and expression of contract document
   17.     Alteration of contract document
   18.     Copy of contract for debtor
   19.     When debtor may terminate contract
   20.     Offence for noncompliance

           Division 2--Debtor's monetary obligations

   21.     Prohibited monetary obligations
   22.     Offences related to prohibited monetary obligations
   23.     Loan to be in money or equivalent
   24.     Early payments and crediting of payments

           Division 3--Interest charges

   25.     Definitions relating to interest
   26.     Limit on interest charges
   27.     Early debit or payment of interest charges prohibited
   28.     Default interest

           Division 4--Fees and charges

   29.     Prohibited credit fees or charges
   30.     Fees or charges passed on to other parties

           Division 5--Credit provider's obligation to account

   31.     Statements of account
   32.     Information to be contained in statements of account
   33.     Opening balance must not exceed closing balance of previous statement
   34.     Statement of amount owing and other matters
   35.     Court may order statement to be provided
   36.     Disputed accounts
   36A.    Dating and adjustment of debits and credits in accounts

           Division 6--Certain transactions not to be treated as contracts

   37.     Deferrals, waivers and changes under contracts

           Part 3--Related mortgages and guarantees

           Division 1--Mortgages

   38.     Form of mortgage
   39.     Copy of mortgage for mortgagor
   40.     Mortgages over all property void
   41.     Restriction on mortgage of future property
   42.     Mortgages and continuing credit contracts
   43.     All accounts mortgages
   44.     Third party mortgages prohibited
   45.     Maximum amount which may be secured
   46.     Prohibited securities
   47.     Assignment or disposal of mortgaged property by mortgagor
   48.     Conditions on consent to assignment or disposal of property subject to mortgage
   49.     Offence for noncompliance

           Division 2--Guarantees

   50.     Form of guarantee
   51.     Disclosure
   52.     Copies of documents for guarantor
   53.     Guarantor may withdraw before credit is provided
   54.     Extension of guarantee
   55.     Limitation of guarantor's liability
   56.     Increase in guarantor's liabilities
   57.     Offence for noncompliance

           Part 4--Changes to obligations under credit contracts, mortgages and guarantees

           Division 1--Unilateral changes by credit provider

   58.     Application of Division
   59.     Interest rate changes
   60.     Repayment changes
   61.     Credit fees and charges changes
   62.     Changes to credit limits etc. in continuing credit contracts
   63.     Other unilateral changes by credit provider
   63A.    Particulars of matters as changed only required to be given under this Division in certain cases
   64.     Prohibited increases in liabilities

           Division 2--Changes by agreement of parties

   65.     Changes by agreement

           Division 3--Changes on grounds of hardship and unjust transactions

   66.     Changes on grounds of hardship
   67.     Notice of change
   68.     Changes by Court
   69.     Credit provider may apply for variation of change
   70.     Court may reopen unjust transactions
   71.     Orders on reopening of transactions
   72.     Court may review unconscionable interest and other charges
   73.     Time limit
   74.     Joinder of parties

           Part 5--Ending and enforcing credit contracts, mortgages and guarantees

           Division 1--Ending of credit contract by debtor

   75.     Debtor's or guarantor's right to pay out contract
   76.     Statement of pay out figure
   77.     Court may determine pay out figure if credit provider does not provide a pay out figure
   78.     Surrender of mortgaged goods and goods subject to sale by instalments
   79.     Compensation to debtor or mortgagor

           Division 2--Enforcement of credit contracts, mortgages and guarantees

   80.     Requirements to be met before credit provider can enforce credit contract or mortgage against defaulting debtor or mortgagor
   81.     Defaults may be remedied
   82.     Requirements to be met before credit provider can enforce guarantee against guarantor
   83.     Requirements to be met before credit provider can repossess mortgaged goods
   84.     Acceleration clauses
   85.     Requirements to be met before credit provider can enforce an acceleration clause

           Division 3--Postponement of enforcement proceedings

   86.     Postponement of exercise of rights
   87.     Effect of negotiated postponement
   88.     Postponement by Court
   89.     Credit provider may apply for variation of postponement order

           Division 4--Enforcement procedures for goods mortgaged

   90.     Information as to location of mortgaged goods
   91.     Entry to residential property to take possession of goods
   92.     Court may order entry
   93.     Order for possession
   94.     Procedures to be followed by credit provider after taking possession of goods
   95.     Mortgagor may nominate purchaser of goods taken by credit provider
   96.     Sale of goods by credit provider
   97.     Matters for which account can be debited after mortgagee sale of goods
   98.     Compensation to mortgagor

           Division 5--Enforcement expenses

   99.     Recovery of enforcement expenses

           Part 6--Civil penalties for defaults of credit providers

           Division 1--Civil penalties for breach of key disclosure and other requirements

   100.    Key requirements
   101.    Application for order relating to key requirements
   102.    Civil penalty may be imposed for contravention of key requirement
   103.    Penalty if application made by debtor or guarantor
   104.    Payment of penalty to debtor or guarantor
   105.    Penalty if application made by a credit provider or Government Consumer Agency
   106.    Payment of penalty to fund
   107.    Compensation for debtor or guarantor
   108.    Recognition of civil penalty determined in other jurisdictions
   109.    Other jurisdiction more appropriate
   110.    General provisions relating to applications by credit providers or Government Consumer Agencies
   111.    Government Consumer Agency may represent interests of debtors
   112.    Directions pending Court's decision
   113.    Offences
   113A.   Time limit for application for orders under this Division

           Division 2--Other civil penalties

   114.    Civil effect of other contraventions

           Part 7--Related sale contracts

           Division 1--Interpretation and application

   115.    Meaning of sale contract
   116.    Sale contracts to which this Part applies
   117.    Linked credit providers and tied credit contracts

           Division 2--Liability of credit providers for suppliers' misrepresentations

   118.    Credit provider liable with respect to supplier's misrepresentations etc. about tied credit contract

           Division 3--Liability of credit providers in relation to goods

   119.    Right to damages under sale contract against both supplier and linked credit provider (cf. Trade Practices Act 1974 (Cwlth) s 73)
   120.    Limits on debtor's right of action against linked credit provider (cf. Trade Practices Act 1974 (Cwlth) s 73)
   121.    Liability of supplier to linked credit provider (cf. Trade Practices Act 1974 (Cwlth) s 73)
   122.    Interest may be awarded (cf. Trade Practices Act 1974 (Cwlth) s 73)
   123.    Subrogation of credit provider (cf. Trade Practices Act 1974 (Cwlth) s 73)

           Division 4--Termination of related transactions

   124.    Termination of sale contract which is conditional on obtaining credit
   125.    Termination of (or recredit under) tied credit contract if sale contract terminated
   126.    Termination of linked maintenance services contract if credit contract terminated
   127.    Termination of contract under this Part to be in writing
   128.    Powers of Court with respect to termination of contract under this Part 129. Part 5 not to apply to termination of contract under this Part

           Division 5--Other provisions

   130.    Requirement as to source of credit for goods or services
   131.    Prohibition on payment for goods or services by postdated bills of exchange or notes which exceed cash price of goods or services

           Part 8--Related insurance contracts

   132.    Interpretation and application
   133.    Requirement to take out insurance or to insure with particular insurer or on particular terms
   134.    Financing of insurance premiums over mortgaged property
   135.    Commission for consumer credit insurance
   136.    Supply of copy of credit-related insurance contract by insurer
   137.    Rejection of debtor's proposal for insurance
   138.    Termination of consumer credit insurance contract if credit contract terminated
   139.    Termination of insurance contract over mortgaged property if credit contract terminated

           Part 9--Advertising and related conduct

   140.    Advertising
   141.    Persons liable for advertisements
   142.    Defence
   143.    Interest rates which may be disclosed
   144.    False or misleading representations
   145.    Harassment
   146.    Canvassing of credit at home

           Part 9A--Comparison rates

           Division 1--Preliminary

   146A.   Object of Part 146B. Part not to apply to continuing credit contracts
   146C.   Definitions
   146D.   Expiry of Part

           Division 2--Comparison rate in credit advertising

   146E.   Comparison rate mandatory in advertisements containing annual percentage rate
   146F.   The relevant comparison rate
   146G.   Information about comparison rate
   146H.   Warning about comparison rate
   146I.   Other requirements for comparison rate

           Division 3--Comparison rate schedules

   146J.   The comparison rate schedule
   146K.   When comparison rate schedule to be provided to consumers
   146L.   Relevant comparison rate schedule
   146M.   Comparison rates to be listed in schedule
   146N.   Form of comparison rate schedule
   146O.   Warning about comparison rates
   146P.   Other requirements for comparison rate schedules
   146Q.   Offence for noncompliance with this Division

           Division 4--Miscellaneous

   146R.   Calculation of comparison rates
   146S.   Compliance grace period following changes in interest or fees
   146T.   Regulations—exemptions and other matters

           Part 10--Consumer leases

           Division 1--Interpretation and application

   147.    Meaning of consumer lease
   148.    Consumer leases to which this Part applies
   149.    Consumer leases to which this Part does not apply
   150.    Presumptions relating to application of this Part

           Division 2--Form of and information to be included in consumer leases

   151.    Form of consumer lease
   152.    Disclosures in consumer leases
   153.    Copy of lease etc. for lessee
   154.    Further goods and deferrals or waivers under consumer leases

           Division 3--Other provisions applicable to consumer leases

   155.    Application of certain Code provisions to consumer leases
   156.    Notice of repossession
   157.    Termination of lease

           Part 11--Miscellaneous

           Division 1--Tolerances and assumptions

   158.    Tolerances and assumptions relating to information
   159.    Tolerances relating to contracts and other documents
   160.    Regulations

           Division 2--Documentary provisions

   161.    Form of notices
   162.    Legibility and language
   163.    Copies of contracts and other documents
   164.    Signing of documents
   164A.   Electronic transactions and documents

           Division 3--General provisions

   165.    Crown to be bound
   166.    Assignment by credit provider
   167.    Assignment by debtor, mortgagor or guarantor
   168.    Appropriation of payments
   169.    Contracting out
   169A.   Indemnities
   170.    Effect of noncompliance
   171.    Giving notice or other document
   172.    Manner of giving notice or other document
   173.    Date of notice or other document
   173A.   Attribution of electronic communications
   174.    Extensions of time
   175.    Orders of Court
   176.    Conduct of agents and related matters
   177.    Reciprocal conferral of powers and jurisdiction

           Division 4--Provisions relating to offences

   178.    Penalty at end of provision
   179.    Penalty units
   180.    Summary offences
   181.    Double jeopardy
   182.    Aiding and abetting, attempts
   182A.   Offences by officers, agents or employees
   183.    Offences by corporations
   184.    Limitations

           Part 12--Transitional provisions

           Division 1--Transitional provision for Consumer Credit (Queensland) Amendment Act 2001

   185.    Provision for particular contracts ending after commencement of amendment

           Division 2--Transitional provision for Consumer Credit (Queensland) Amendment Act 2002

   186.    Time limits under s 113A for certain civil penalty orders
           SCHEDULE 1 PRINCIPAL DEFINITIONS
           SCHEDULE 2 MISCELLANEOUS PROVISIONS RELATING TO INTERPRETATION

           Part 1--Preliminary
           1. Displacement of Schedule by contrary intention

           Part 2--General
           2. Code to be construed not to exceed legislative power of Legislature
           3. Every section to be a substantive enactment
           4. Material that is, and is not, part of this Code
           5. References to particular Acts and to enactments
           6. References taken to be included in Act or Code citation etc.
           7. Interpretation best achieving Code's purpose
           8. Use of extrinsic material in interpretation
           9. Effect of change of drafting practice and use of examples
           10. Use of examples
           11. Compliance with forms

           Part 3--Terms and references
           12. Definitions
           13. Provisions relating to defined terms and gender and number
           14. Meaning of may and must etc.
           15. Words and expressions used in statutory instruments
           16. Effect of express references to bodies corporate and individuals
           17. Production of records kept in computers etc.
           18. References to this jurisdiction to be implied
           19. References to officers and holders of offices
           20. Reference to certain provisions of Code
           21. Reference to provisions of this Code or an Act is inclusive

           Part 4--Functions and powers
           22. Performance of statutory functions
           23. Power to make instrument or decision includes power to amend or repeal
           24. Matters for which statutory instruments may make provision
           25. Presumption of validity and power to make
           26. Appointments may be made by name or office
           27. Acting appointments
           28. Powers of appointment imply certain incidental powers
           29. Exercise of powers between enactment and commencement

           Part 5--Distance, time and age
           30. Matters relating to distance, time and age

           Part 6--Effect of repeal, amendment or expiration
           31. Time of Code ceasing to have effect
           32. Repealed Code provisions not revived
           33. Saving of operation of repealed Code provisions
           34. Continuance of repealed provisions
           35. Code and amending Acts to be read as one

           Part 7--Instruments under Code
           36. Schedule applies to statutory instruments

           Part 8--Application to coastal sea
           37. Application
           Endnotes