Victorian Consolidated Legislation

Credit Act 1984 - SECT 10

Annual percentage rate

10. Annual percentage rate

For the purposes of this Act, unless the contrary intention appears, a
reference to the annual percentage rate-

   (a)  in relation to a credit sale contract or a loan contract in respect of
        which the annual percentage rate has not been disclosed to the debtor
        or has been so disclosed otherwise than in accordance with section 38,
        is a reference to the lowest percentage rate per annum that can be
        determined in accordance with that section in relation to the
        contract;

   (b)  in relation to a credit sale contract or a loan contract under which
        the annual percentage rate has been disclosed in accordance with
        section 38, is a reference to the rate disclosed; and

   (c)  in relation to a continuing credit contract, is a reference to the
        annual percentage rate within the meaning of section 55.