CREDIT ACT 1984

Victorian Consolidated Legislation

[Index] [Search] [Notes] [Noteup] [Download] [Help]
CREDIT ACT 1984 - NOTES

No. 10097 of 1984
Version incorporating amendments as at 1 December 2008

ENDNOTES

1. General Information
The Credit Act 1984 was assented to on 22 May 1984 and came into operation as follows: 
Sections 172, 173 on 13 July 1984: Government Gazette 11 July 1984 page 2340; sections 3(1)(2), 4-6, 8, 9, 12, 15, 16, 19, Part 2 (except sections 21, 23), 48, 157-161 on 1 November 1984: Government Gazette 31 October 1984 page 3925; section 153 on 6 December 1984: Government Gazette 5 December 1984 page 4263; rest of Act on 28 February 1985: Government Gazette 19 December 1984 page 4483.
2. Table of Amendments
This Version incorporates amendments made to the Credit Act 1984 by Acts and subordinate instruments.
-------------------------------------------------------------
Accident Compensation Act 1985, No. 10191/1985
Assent Date:
30.7.85
Commencement Date:
S. 276(Sch. 2) on 31.8.85 (at 4 p.m.): Government Gazette 30.8.85 p. 3401
Current State:
This information relates only to the provision/s amending the Credit Act 1984
Road Safety Act 1986, No. 127/1986
Assent Date:
23.12.86
Commencement Date:
S. 102 on 1.3.87: Government Gazette 25.2.87 p. 445; Sch. 4 item 4 on 1.7.87: Government Gazette 25.6.87 p. 1
Current State:
This information relates only to the provision/s amending the Credit Act 1984
Chattel Securities Act 1987, No. 15/1987
Assent Date:
12.5.87
Commencement Date:
1.8.87: Government Gazette 29.7.87 p. 1992
Current State:
All of Act in operation
Subdivision Act 1988, No. 53/1988 (as amended by No. 47/1989)
Assent Date:
31.5.88
Commencement Date:
30.10.89: Government Gazette 4.10.89 p. 2532
Current State:
All of Act in operation
Credit (Administration) (Amendment) Act 1989, No. 4/1989
Assent Date:
2.5.89
Commencement Date:
Ss 1-3, 5 on 2.5.89: s. 2(1); ss 4, 6-9 on 29.4.91: Government Gazette 6.3.91 p. 483
Current State:
All of Act in operation
Licensing Authorities (Amendment) Act 1989, No. 6/1989
Assent Date:
2.5.89
Commencement Date:
S. 48 on 2.5.89: s. 2(1)
Current State:
This information relates only to the provision/s amending the Credit Act 1984
Credit (Amendment) Act 1989, No. 24/1989 (as amended by No. 72/1993)
Assent Date:
6.6.89
Commencement Date:
S. 6 on 1.7.91: s. 2(2); rest of Act on 6.6.89: s. 2(1) 
Current State:
All of Act in operation
Magistrates' Court (Consequential Amendments) Act 1989, No. 57/1989
Assent Date:
14.6.89
Commencement Date:
S. 3(Sch. item 39) on 1.9.90: Government Gazette 25.7.90 p. 2217
Current State:
This information relates only to the provision/s amending the Credit Act 1984
Credit (Further Amendment) Act 1991, No. 34/1991
Assent Date:
18.6.91
Commencement Date:
All of Act (except s. 5) on 26.6.91: Government Gazette 26.6.91 p. 1659
Current State:
This information relates only to the provision/s amending the Credit Act 1984
Credit (Administration) (Amendment) Act 1993, No. 72/1993
Assent Date:
12.10.93
Commencement Date:
Pts 1 (ss 1-3), 4 (s. 17) on 12.10.93: s. 2(1); s. 16 on 1.7.91: s. 2(2); rest of Act on 8.11.93: s. 2(3)
Current State:
All of Act in operation
Consumer Credit (Victoria) Act 1995, No. 41/1995
Assent Date:
14.6.95
Commencement Date:
Ss 53, 54 on 14.6.95: s. 2(1); s. 52 on 5.3.96: Government Gazette 29.2.96 p. 645; s. 51 on 1.11.96: Government Gazette 29.8.96 p. 2274
Current State:
This information relates only to the provision/s amending the Credit Act 1984
Law and Justice Legislation (Further Amendment) Act 1997, No. 84/1997
Assent Date:
2.12.97
Commencement Date:
S. 14 on 28.2.85: s. 2(4); ss 15-17 on 2.12.97: s. 2(1)
Current State:
This information relates only to the provision/s amending the Credit Act 1984
Credit (Amendment) Act 1998, No. 19/1998
Assent Date:
5.5.98
Commencement Date:
Ss 3-4 on 1.7.98: s. 2
Current State:
This information relates only to the provision/s amending the Credit Act 1984
Tribunals and Licensing Authorities (Miscellaneous Amendments) Act 1998, No. 52/1998
Assent Date:
2.6.98
Commencement Date:
Ss 21-25 on 1.7.98: Government Gazette 18.6.98 p. 1512
Current State:
This information relates only to the provision/s amending the Credit Act 1984
Fair Trading (Inspectors Powers and Other Amendments) Act 1999, No. 17/1999
Assent Date:
18.5.99
Commencement Date:
S. 28 on 1.9.99: Government Gazette 19.8.99 p. 1901
Current State:
This information relates only to the provision/s amending the Credit Act 1984
Statute Law Amendment (Authorised Deposit-taking Institutions) Act 2001, No. 11/2001
Assent Date:
8.5.01
Commencement Date:
S. 3(Sch. item 18) on 1.6.01: s. 2(2)
Current State:
This information relates only to the provision/s amending the Credit Act 1984

Corporations (Consequential Amendments) Act 2001, No. 44/2001
Assent Date:
27.6.01
Commencement Date:
S. 3(Sch. item 26) on 15.7.01: s. 2
Current State:
This information relates only to the provision/s amending the Credit Act 1984
Statute Law Revision Act 2005, No. 10/2005
Assent Date:
27.4.05
Commencement Date:
S. 3(Sch. 1 item 6) on 28.4.05: s. 2
Current State:
This information relates only to the provision/s amending the Credit Act 1984
Legal Profession (Consequential Amendments) Act 2005, No. 18/2005
Assent Date:
24.5.05
Commencement Date:
S. 18(Sch. 1 item 26) on 12.12.05: Government Gazette 1.12.05 p. 2781
Current State:
This information relates only to the provision/s amending the Credit Act 1984
Owners Corporations Act 2006, No. 69/2006
Assent Date:
19.9.06
Commencement Date:
S. 224(Sch. 3 item 2) on 31.12.07: s. 2(2)
Current State:
This information relates only to the provision/s amending the Credit Act 1984
Fair Trading and Consumer Acts Further Amendment Act 2008, No. 2/2008
Assent Date:
11.2.08
Commencement Date:
S. 56 on 1.12.08: s. 2(4)
Current State:
This information relates only to the provision/s amending the Credit Act 1984
-------------------------------------------------------------
3. Explanatory Details

1 Pt 3: Section 5 of the Credit (Amendment) Act 1989, No. 24/1989 reads as follows:
	5.	Validation of loan contracts made by certain foreign credit societies
Parts III, IV, V, VI, VII and VIII of the Credit Act 1984 shall be deemed never to have applied to or with respect to a regulated contract made before the commencement of this section where the credit provider is a credit society or credit union registered or incorporated under the law of another State or of a Territory corresponding to the Co-operation Act 1981.

2 S. 36: Section 3 of the Credit (Amendment) Act 1989, No. 24/1989 reads as follows:
	3.	Validation of certain calculations
	(1)	A statement of the amount financed in a regulated loan contract entered into in consideration of the discharge of one or more other regulated contracts shall be deemed not to have contravened section 36 of the Credit Act 1984 by the reason only that the amount due under the discharged contract or contracts was not calculated in accordance with that Act if the extent to which the statement of the amount due contravenes that Act is solely attributable-
	(a)	in the case of a regulated loan contract entered into before 1 January 1988, to the use of the method known as the Rule of 78 to calculate that amount; or
	(b)	in the case of a regulated loan contract entered into on or after that date, to the use of that method before that date to calculate an amount due under any other regulated loan contract.
	(2)	Subsection (1) ceases to have effect in relation to a contract to which this section applies if the debtor commences proceedings relating to the calculation of the amount due before the credit provider pays to the debtor the amount by which the amount so calculated exceeds the amount calculated in accordance with the Credit Act 1984.

3 Pt 4: See note 2.
4 Pt 5: See note 2.
5 Pt 6: See note 2.
6 Pt 7: See note 2.
7 Pt 8: See note 2.

??

??





Part II-Contracts of Sale


Credit Act 1984
No. 10097 of 1984