CREDIT ACT 1984 - SECT 41
CREDIT ACT 1984 - SECT 41
41 . Variation of contracts ineffective without notice
(1) Where, in
accordance with a provision in a credit sale contract or a loan contract, the
credit provider exercises a right under the contract to vary the contract
(otherwise than at the request of the debtor or in a manner referred to in
section 37, 69, 70 or 71) the variation does not have effect until the
prescribed period (or, where the contract provides for a longer period of
notice of the variation, that longer period) has elapsed after notice of the
variation has been given to the debtor.
(2) Where notice of
the variation of a credit sale contract or loan contract is given in a common
form and posted by bulk postage, the notice shall be deemed to have been given
21 days after the date on which the last of the bulk postages was made.