Victorian Consolidated Legislation

Credit Act 1984 - SECT 78

Sufficient statement of annual percentage rate

78. Sufficient statement of annual percentage rate

It is sufficient compliance with the provisions of this Part that require the
annual percentage rate to be stated in or in relation to a regulated contract
under which the whole or any part of the credit charge is a predetermined
credit charge if the annual percentage rate is-

   (a)  stated as a rate greater than that required to be stated; or

   (b)  stated as a rate less than that required to be stated by not more than
        one part in fifty of the rate required to be stated.