Queensland Consolidated Regulations Queensland Consolidated Regulations(1) Sections 66 to 69 of the Code (relating to changes on grounds of hardship) apply to applications in respect of any pre-Code continuing credit contract even though the cause of the hardship arose before the commencement of the Code.
(2) Sections 70 and 72 of the Code (relating to re-opening unjust transactions and unconscionable charges) do not apply, except as provided by subsection (3), in respect of--
(a) a pre-Code continuing credit contract; or
(b) a mortgage or guarantee relating to such a contract that is made before the Code commences to apply to the contract.
(3) If the provisions of a pre-Code continuing credit contract, or such a mortgage or guarantee, are varied after that commencement, sections 70 and 72 of the Code apply in respect of the contract, mortgage or guarantee, but--
(a) the operation of the contract, mortgage or guarantee before that commencement may not be affected; and
(b) the court may have regard to anything that is unjust or unconscionable only if it is attributable to the variation.