Victorian Consolidated Legislation

Credit Act 1984 - SECT 19A

Act not to apply to new credit contracts

19A. Act not to apply to new credit contracts



(1) Subject to subsection (2), this Act does not apply to a credit contract
made on or after the commencement of section 51 of the
Consumer Credit (Victoria) Act 1995.

(2) This Act applies to-

   (a)  a credit contract, other than a continuing credit contract, and to a
        mortgage or guarantee relating to such a credit contract-

   (i)  made on or after the commencement of section 51 of the
        Consumer Credit (Victoria) Act 1995 if the offer to enter into it was
        made before that commencement; and

   (ii) to which this Act would have applied if the credit contract had been
        made before that commencement; and

   (b)  a credit contract, other than a continuing credit contract, and to a
        mortgage or guarantee relating to such a credit contract made on or
        after that commencement but not later than one month after that
        commencement if-

   (i)  the credit contract does not comply with the Consumer Credit
        (Victoria) Code; and

   (ii) had the credit contract been made before that commencement, this Act
        would have applied to it and it would have complied with this Act.