Queensland Consolidated Regulations

CONSUMER CREDIT REGULATION 1995 - SECT 5

For the purposes of section 7(3) of the Code, the prescribed maximum charge is--

(a) for the period of 12 months after the continuing credit contract is made--$200; and

(b) for any subsequent period of 12 months--$125.

Note--

Section 7(3) of the Code provides that the Code does not apply to the provision of credit under a continuing credit contract if the only charge that is or may be made for providing the credit is a periodic or other fixed charge that does not vary according to the amount of credit provided. However, the Code applies if the charge exceeds the maximum charge (if any) prescribed by the regulations.