Queensland Consolidated Acts

FAIR TRADING ACT 1989 - SECT 60

(1) Subject to this section, a contract to which this division applies is a prescribed contract if the total consideration payable by the consumer under, or in respect of, the contract--

(a) is not ascertainable at the time of the making of the contract; or

(b) is ascertainable at the time of the making of the contract and exceeds the prescribed amount.

(2) Where--

(a) 2 or more contracts relate to substantially the same transaction; and

(b) the transaction could have been effected by a single contract which would, in that case, have constituted a prescribed contract;

then, each of the contracts that would not, if it stood alone, constitute a prescribed contract becomes a prescribed contract and, for the purpose of ascertaining the cooling-off period in relation to such a contract, it shall be taken to have been made when the last of the contracts was made.

(3) The following are not prescribed contracts--

(a) a contract of insurance;

(b) a contract solely for the provision of credit.

(4) In this section--

the prescribed amount means $75 or, if another amount is prescribed by regulation, that other amount.