Victorian Consolidated Legislation

Credit Act 1984 - SECT 56

Billing cycle less than one month

56. Billing cycle less than one month

A credit provider does not fail to comply with the provisions of this Division
relating to the stating of the annual percentage rate in relation to a
continuing credit contract or of the credit charge in relation to a billing
cycle by reason only that he applies a percentage rate under the contract to
the whole or part of the chargeable amount to yield the credit charge or part
of the credit charge in respect of a billing cycle, the period of which is not
less than 24 days, as if the period of that billing cycle were one month.