Queensland Consolidated Regulations

CONSUMER CREDIT REGULATION 1995

TABLE OF PROVISIONS

           Contents

           Part 1--Preliminary

   1.      Short title
   2.      Commencement
   3.      Definitions
   4.      Forms

           Part 2--Matters prescribed for the purposes of part 1 of the Code (Preliminary)

   5A.     Continued application of pt 11 of the Code and interpretation
   5B.     Application of Code to provision of credit under bill facilities
   5.      Exempt credit—maximum account charges
   6.      Additional exempt credit
   6A.     GIO Finance Limited's No Interest Loan Scheme—exemption from Code
   6B.     Rental Purchase Plan—exemption from certain provisions of Code
   6C.     Partnership loans—exemption from certain provisions of Code
   6D.     Student loans—exemption from certain provisions of Code
   6E.     Loans for conservation of heritage items—exemption from Code
   6F.     Authorised deposit-taking institutions—exemption from Code
   6G.     Estate administrators—exemption from certain provisions of Code
   6H.     Credit under Aged Care Act 1997 (Cwlth)—exemption from certain provisions of Code
   6I.     Firefighter's Benefit Fund of WA Incorporated
   6J.     Charge card contracts—exemption of certain contracts from Code
   7.      Mortgages—exemptions from Code
   8.      Guarantees—exemption from Code
   9.      Deemed mortgages for goods lease with option to purchase
   10.     Declaration of purposes for which credit provided

           Part 3--Matters prescribed for the purposes of part 2 of the Code (Credit contracts)

   11.     Statement about debtor's statutory rights and obligations
   12.     Comparison rate
   13.     Pre-contractual statement
   14.     Additional disclosures about insurance financed by contract
   15.     Additional disclosures about credit contracts to be signed by debtor
   16.     Deduction of amount for interest charges
   17.     Calculation of unpaid daily balances
   18.     Early debit or payment of interest charges
   19.     When statement of account not required

           Part 4--Matters prescribed for the purposes of part 3 of the Code (Related mortgages and guarantees)

   19A.    Mortgage arising from certain home ownership schemes—exemption from section 46(1) of the Code
   20.     Form of guarantees
   21.     Explanation about guarantor's rights and obligations

           Part 5--Matters prescribed for the purposes of part 4 of the Code (Changes to obligations under credit contracts, mortgages and guarantees)

   22.     Information about increases in the amount of credit
   22A.    Application of ss 66 to 69 of the Code

           Part 6--Matters prescribed for the purposes of part 5 of the Code (Ending and enforcing credit contracts, mortgages and guarantees)

   23.     Information after surrender of goods
   23A.    Application of pt 5, div 3 of the Code
   24.     Consent to enter premises
   25.     Statement about mortgagor's rights and obligations
   26.     Information about proceeds of sale of mortgaged goods

           Part 7--Matters prescribed for the purposes of part 7 of the Code (Related sale contracts)

   27.     Rate of interest on damages
   28.     Informing debtor of rights
   29.     Rebate of consideration

           Part 8--Matters prescribed for the purposes of part 8 of the Code (Related insurance contracts)

   30.     Particulars of insurance entered into by credit provider
   31.     Proportionate rebate of consumer credit insurance premium
   32.     Notice of right to cancel mortgaged property insurance
   33.     Proportionate rebate of premium for insurance over mortgaged property

           Part 8A--Matters prescribed for the purposes of part 9A of the Code (Comparison rates)

   33A.    Relevant comparison rate where annual percentage rate stated
   33B.    Information about whether comparison rate relates to secured loan
   33C.    Warnings about comparison rate
   33D.    Relevant comparison rate schedules
   33E.    Information about whether comparison rate relates to secured loan
   33F.    Calculation of comparison rates
   33G.    Exemption of certain premises
   33H.    Exemptions in relation to comparison rate schedules
   33HA.   Matters that may be included in comparison rate schedules
   33I.    Expiry of part

           Part 9--Matters prescribed for the purposes of part 10 of the Code (Consumer leases)

   34.     Declaration about purpose of leases
   35.     Explanation about rights and obligations of consumer lessees

           Part 10--Matters prescribed for the purposes of part 11 of the Code (Miscellaneous)

   36.     Tolerances relating to disclosures
   37.     Tolerances relating to amounts payable etc.
   38.     Additional assumptions relating to disclosures
   38A.    Contracts linked to loan account offset arrangements
   39.     Requirements for print or type
   39A.    Exemptions in relation to electronic communications
   40.     Address for notices

           Part 11--Savings and transitional provisions

           Division 1--General

   40A.    Transitional provisions
   41.     Definitions

           Division 2--Savings and transitional provisions generally

   42.     Application of Code—pre-Code contracts other than continuing credit contracts
   43.     Application of Code—pre-Code continuing credit contracts
   44.     Application of Code—mortgages and guarantees
   45.     Application of Code—goods leases with option to purchase
   46.     Application of Code—purpose for which credit is provided
   47.     Presumptions relating to application of Code to pre-Code continuing credit contracts
   48.     Disclosures to debtors under pre-Code continuing credit contracts
   49.     Special transitional provision with respect to pre-determined credit charge
   50.     Special transitional provision with respect to early payment of interest
   51.     First statement of opening balance for pre-Code continuing credit contracts
   52.     Variation of existing pre-Code non-continuing credit contracts to increase credit
   53.     Variation of existing contracts imposing monetary liabilities prohibited by Code
   54.     Application of Code—hardship and unjust transactions with respect to pre-Code continuing credit contracts
   55.     Previous default notice
   56.     Application of Code—related sale contracts
   57.     Application of Code—consumer leases

           Division 3--Special transitional provisions

   58.     Credit fees and charges
   59.     Matters to be included in contract document
   60.     Copies of contracts and mortgages for debtors
   61.     End of day for purposes of credit contracts
   62.     Early debit of interest charges
   63.     Dating and adjustment of debits and credits in accounts
   64.     Statements of account for multiple facility contracts
   65.     Requirements for statements of amounts owing
   66.     Particulars of interest rate changes
   67.     Particulars of repayment changes
   68.     Particulars of credit fees and charges changes
   69.     Particulars of unilateral changes by credit provider
   70.     Agreed changes to contracts, mortgages and guarantees
   71.     Particulars of changes on grounds of hardship
   72.     Key requirements
   73.     Termination of insurance contracts
   74.     Application of Code to related insurance contracts
   75.     Contribution to civil penalties by participants in programs
   76.     Recovery by nominated credit provider
   77.     Effect of ss 75-76

           Division 4--Transitional provisions arising from amending Act

   78.     Definition
   79.     Inclusion of additional information in financial table
   80.     Changes to key requirements
   81.     Limitation of guarantor's liability
   82.     Nominations to receive notices
           SCHEDULE FORMS
           Endnotes