Queensland Consolidated Regulations

CONSUMER CREDIT REGULATION 1995 - SECT 33D

(1) For the purposes of section 146M(2) of the Code, the designated amounts of credit and terms for which a comparison rate is required to be listed in a comparison rate schedule are as follows--

(a) $250 for a term of 2 weeks;

(b) $600 for a term of 8 weeks;

(c) $1000 for a term of 6 months;

(d) $1500 for a term of 1 year;

(e) $2500 for a term of 2 years;

(f) $5000 for a term of 2 years;

(g) $10000 for a term of 3 years;

(h) $15000 for a term of 4 years;

(i) $20000 for a term of 4 years;

(j) $25000 for a term of 5 years;

(k) $30000 for a term of 5 years;

(l) $50000 for a term of 7 years;

(m) $70000 for a term of 25 years;

(n) $100000 for a term of 25 years;

(o) $130000 for a term of 25 years;

(p) $150000 for a term of 25 years;

(q) $200000 for a term of 25 years;

(r) $225000 for a term of 25 years;

(s) $250000 for a term of 25 years;

(t) $275000 for a term of 30 years;

(u) $300000 for a term of 30 years.

(2) For the purposes of section 146M(2) of the Code, if a credit provider generally provides credit for an amount listed in subsection (1)(m) to (u) for a term of less than 25 years for purposes other than for a housing loan, the term prescribed for the amount is the term for which credit of that amount is provided by the credit provider.

(3) If the annual percentage rate applicable to an amount of credit provided by a credit provider is determined by a credit provider according to the risk profile of the debtor, a comparison rate schedule in which the amount is included must contain 5 comparison rates for that amount.

(4) The comparison rates for an amount of credit mentioned in subsection (3) are to be calculated on the basis of repayments with an annual percentage rate that is the average annual percentage rate charged by the credit provider for the amount rounded to the nearest whole number and the 2 whole number rates above and below that rate.