Queensland Consolidated Regulations Queensland Consolidated Regulations(1) If a pre-Code continuing credit contract to which the Code applies imposes a monetary liability prohibited by the Code, the credit provider may, by notice to the debtor, unilaterally change the contract so that it does not impose such a liability.
(2) Any such change must not increase the obligations of the debtor under the contract.
(3) Any such change may be made to take effect from the day on which the Code first applies to the contract, even though the notice of the change is not given to the debtor until after that day.
(4) Part 6 of the Code does not apply to the imposition of a monetary liability prohibited by the Code in a pre-Code continuing credit contract, being a liability imposed before the Code begins to apply to the contract.