Queensland Consolidated Regulations Queensland Consolidated Regulations(1) This section applies only to a credit contract--
(a) that is part of a securitised program; and
(b) that is entered into within 12 months after the commencement of the Code.
(2) Section 27 of the Code does not prohibit a requirement for payment of or the debit of an interest charge before the end of the day to which the interest charge applies if--
(a) it is permitted under the credit contract; and
(b) that payment is not demanded or debited more than 21 days in advance of the end of the day to which the interest charge applies.
(3) In this section--
securitised program means a program--
(a) involving the funding, or proposed funding, of credit that has been or is to be provided by a credit provider by the issue of instruments or entitlements to investors; and
(b) under which payments to investors in respect of those instruments or entitlements are principally derived, directly or indirectly, from repayments in respect of credit so provided.