HOUSING ACT 2003 - SECT 92 Standard interest rates

HOUSING ACT 2003 - SECT 92

92 Standard interest rates

(1) The chief executive may, by publishing a notice in a newspaper circulating throughout the State, declare 1 or more standard interest rates for owner-occupied home loans made by the chief executive under this Act.

(2) The declared rates may include—

(a) 1 or more standard fixed interest rates; and

(b) 1 or more standard variable interest rates.

(3) A declared interest rate must be consistent with the interest rate policy prescribed under a regulation.

(4) A declared interest rate applies to a loan if the rate is stated to apply under this Act or under an agreement between the parties to the loan.