Queensland Consolidated Regulations Queensland Consolidated Regulations(1) The credit provider under a pre-Code continuing credit contract must--
(a) not later than 3 months after the commencement of the Code (and either before or after that commencement); or
(b) if the contract is made after that commencement--not later than 3 months after the contract is made;
give the debtor the statements required by section 14 of the Code (Pre-contractual disclosure) to be given in the case of a credit contract to which that section applies.
Maximum penalty--50 penalty units.
(2) Such a statement need not contain any information or warning that is only relevant to action to be taken before or at the time of entering the contract nor any information or warning that has ceased to be relevant. In particular, such a statement need not be given about any amount that became due for payment before the statement is given.
(3) However, for the purposes only of a statement of the information referred to in section 15(L)(b) of the Code, the relevant period of 3 months in subsection (1) is increased to 15 months.
(4) The requirements of this section may be complied with by the issue of a new contract document in which the required statements under this section are included.
(5) The information required by this section need not be set out in the form and manner required by section 13 of this regulation.
(6) Part 6 of the Code does not apply to a requirement imposed by this section.