CONSUMER CREDIT (WESTERN AUSTRALIA) CODE

Western Australian Consolidated Acts

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CONSUMER CREDIT (WESTERN AUSTRALIA) CODE

TABLE OF PROVISIONS

PART 1 -- Preliminary

1. Short title
2. Commencement
3. Interpretation generally
4. Meaning of “credit” and “amount of credit”
5. Meaning of “credit contract”
6. Provision of credit to which this Code applies
7. Provision of credit to which this Code does not apply
8. Mortgages to which this Code applies
9. Guarantees to which this Code applies
10. Goods leases with option to purchase to be regarded as sale by instalments
11. Presumptions relating to application of Code

PART 2 -- Credit contracts

Division 1 -- Negotiating and making credit contracts

12. Credit contract to be in form of written contract document
13. Other forms of contract
14. Precontractual disclosure
15. Matters that must be in contract document
16. Form and expression of contract document
17. Alteration of contract document
18. Copy of contract for debtor
19. When debtor may terminate contract
20. Offence for noncompliance

Division 2 -- Debtor’s monetary obligations

21. Prohibited monetary obligations
22. Offences related to prohibited monetary obligations
23. Loan to be in money or equivalent
24. Early payments and crediting of payments

Division 3 -- Interest charges

25. Definitions relating to interest
26. Limit on interest charges
27. Early debit or payment of interest charges prohibited
28. Default interest

Division 4 -- Fees and charges

29. Prohibited credit fees or charges
30. Fees or charges passed on to other parties

Division 5 -- Credit provider’s obligation to account

31. Statements of account
32. Information to be contained in statements of account
33. Opening balance must not exceed closing balance of previous statement
34. Statement of amount owing and other matters
35. Court may order statement to be provided
36. Disputed accounts
37. Dating and adjustment of debits and credits in accounts

Division 6 -- Certain transactions not to be treated as contracts

37. Deferrals, waivers and changes under contracts

PART 3 -- Related mortgages and guarantees

Division 1 -- Mortgages

38. Form of mortgage
39. Copy of mortgage for mortgagor
40. Mortgages over all property void
41. Restriction on mortgage of future property
42. Mortgages and continuing credit contracts
43. All accounts mortgages
44. Third party mortgages prohibited
45. Maximum amount which may be secured
46. Prohibited securities
47. Assignment or disposal of mortgaged property by mortgagor
48. Conditions on consent to assignment or disposal of property subject to mortgage
49. Offence for noncompliance

Division 2 -- Guarantees

50. Form of guarantee
51. Disclosure
52. Copies of documents for guarantor
53. Guarantor may withdraw before credit is provided
54. Extension of guarantee
55. Limitation of guarantor’s liability
56. Increase in guarantor’s liabilities
57. Offence for noncompliance

PART 4 -- Changes to obligations under credit contracts, mortgages and guarantees

Division 1 -- Unilateral changes by credit provider

58. Application of Division
59. Interest rate changes
60. Repayment changes
61. Credit fees and charges changes
62. Changes to credit limits etc. in continuing credit contracts
63. Other unilateral changes by credit provider
64. Particulars of matters as changed only required to be given under this Division in certain cases
65. Prohibited increases in liabilities

Division 2 -- Changes by agreement of parties

65. Changes by agreement

Division 3 -- Changes on grounds of hardship and unjust transactions

66. Changes on grounds of hardship
67. Notice of change
68. Changes by Court
69. Credit provider may apply for variation of change
70. Court may reopen unjust transactions
71. Orders on reopening of transactions
72. Court may review unconscionable interest and other charges
73. Time limit
74. Joinder of parties

PART 5 -- Ending and enforcing credit contracts, mortgages and guarantees

Division 1 -- Ending of credit contract by debtor

75. Debtor’s or guarantor’s right to pay out contract
76. Statement of pay out figure
77. Court may determine pay out figure if credit provider does not provide a pay out figure
78. Surrender of mortgaged goods and goods subject to sale by instalments
79. Compensation to debtor or mortgagor

Division 2 -- Enforcement of credit contracts, mortgages and guarantees

80. Requirements to be met before credit provider can enforce credit contract or mortgage against defaulting debtor or mortgagor
81. Defaults may be remedied
82. Requirements to be met before credit provider can enforce guarantee against guarantor
83. Requirements to be met before credit provider can repossess mortgaged goods
84. Acceleration clauses
85. Requirements to be met before credit provider can enforce an acceleration clause

Division 3 -- Postponement of enforcement proceedings

86. Postponement of exercise of rights
87. Effect of negotiated postponement
88. Postponement by Court
89. Credit provider may apply for variation of postponement order

Division 4 -- Enforcement procedures for goods mortgaged

90. Information as to location of mortgaged goods
91. Entry to residential property to take possession of goods
92. Court may order entry
93. Order for possession
94. Procedures to be followed by credit provider after taking possession of goods
95. Mortgagor may nominate purchaser of goods taken by credit provider
96. Sale of goods by credit provider
97. Matters for which account can be debited after mortgagee sale of goods
98. Compensation to mortgagor

Division 5 -- Enforcement expenses

99. Recovery of enforcement expenses

PART 6 -- Civil penalties for defaults of credit providers

Division 1 -- Civil penalties for breach of key disclosure and other requirements

100. Key requirements
101. Application for order relating to key requirements
102. Civil penalty may be imposed for contravention of key requirement
103. Penalty if application made by debtor or guarantor
104. Payment of penalty to debtor or guarantor
105. Penalty if application made by a credit provider or Government Consumer Agency
106. Payment of penalty to fund
107. Compensation for debtor or guarantor
108. Recognition of civil penalty determined in other jurisdictions
109. Other jurisdiction more appropriate
110. General provisions relating to applications by credit providers or Government Consumer Agencies
111. Government Consumer Agency may represent interests of debtors
112. Directions pending Court’s decision
113. Offences
113A. Time limit for application for orders under this Division

Division 2 -- Other civil penalties

114. Civil effect of other contraventions

PART 7 -- Related sale contracts

Division 1 -- Interpretation and application

115. Meaning of sale contract
116. Sale contracts to which this Part applies
117. Linked credit providers and tied credit contracts

Division 2 -- Liability of credit providers for suppliers’ misrepresentations

118. Credit provider liable with respect to supplier’s misrepresentations etc. about tied credit contract

Division 3 -- Liability of credit providers in relation to goods

119. Right to damages under sale contract against both supplier and linked credit provider (cf. Trade Practices Act 1974 (Cwlth) s 73)
120. Limits on debtor’s right of action against linked credit provider (cf. Trade Practices Act 1974 (Cwlth) s 73)
121. Liability of supplier to linked credit provider (cf. Trade Practices Act 1974 (Cwlth) s 73)
122. Interest may be awarded (cf. Trade Practices Act 1974 (Cwlth) s 73)
123. Subrogation of credit provider (cf. Trade Practices Act 1974 (Cwlth) s 73)

Division 4 -- Termination of related transactions

124. Termination of sale contract which is conditional on obtaining credit
125. Termination of (or recredit under) tied credit contract if sale contract terminated
126. Termination of linked maintenance services contract if credit contract terminated
127. Termination of contract under this Part to be in writing
128. Powers of Court with respect to termination of contract under this Part
129. Part 5 not to apply to termination of contract under this Part

Division 5 -- Other provisions

130. Requirement as to source of credit for goods or services
131. Prohibition on payment for goods or services by postdated bills of exchange or notes which exceed cash price of goods or services

PART 8 -- Related insurance contracts

132. Interpretation and application
133. Requirement to take out insurance or to insure with particular insurer or on particular terms
134. Financing of insurance premiums over mortgaged property
135. Commission for consumer credit insurance
136. Supply of copy of credit-related insurance contract by insurer
137. Rejection of debtor’s proposal for insurance
138. Termination of consumer credit insurance contract if credit contract terminated
139. Termination of insurance contract over mortgaged property if credit contract terminated

PART 9 -- Advertising and related conduct

140. Advertising
141. Persons liable for advertisements
142. Defence
143. Interest rates which may be disclosed
144. False or misleading representations
145. Harassment
146. Canvassing of credit at home

PART 9A -- Comparison rates

Division 1 -- Preliminary

146A. Object of Part
146B. Part not to apply to continuing credit contracts
146C. Definitions
146D. Expiry of Part

Division 2 -- Comparison rate in credit advertising

146E. Comparison rate mandatory in advertisements containing annual percentage rate
146F. The relevant comparison rate
146G. Information about comparison rate
146H. Warning about comparison rate
146I. Other requirements for comparison rate

Division 3 -- Comparison rate schedules

146J. The comparison rate schedule
146K. When comparison rate schedule to be provided to consumers
146L. Relevant comparison rate schedule
146M. Comparison rates to be listed in schedule
146N. Form of comparison rate schedule
146O. Warning about comparison rates
146P. Other requirements for comparison rate schedules
146Q. Offence for noncompliance with this Division

Division 4 -- Miscellaneous

146R. Calculation of comparison rates
146S. Compliance grace period following changes in interest or fees
146T. Regulations--exemptions and other matters

PART 10 -- Consumer leases

Division 1 -- Interpretation and application

147. Meaning of consumer lease
148. Consumer leases to which this Part applies
149. Consumer leases to which this Part does not apply
150. Presumptions relating to application of this Part

Division 2 -- Form of and information to be included in consumer leases

151. Form of consumer lease
152. Disclosures in consumer leases
153. Copy of lease etc. for lessee
154. Further goods and deferrals or waivers under consumer leases

Division 3 -- Other provisions applicable to consumer leases

155. Application of certain Code provisions to consumer leases
156. Notice of repossession
157. Termination of lease

PART 11 -- Miscellaneous

Division 1 -- Tolerances and assumptions

158. Tolerances and assumptions relating to information
159. Tolerances relating to contracts and other documents
160. Regulations

Division 2 -- Documentary provisions

161. Form of notices
162. Legibility and language
163. Copies of contracts and other documents
164. Signing of documents
164A. Electronic transactions and documents

Division 3 -- General provisions

165. Crown to be bound
166. Assignment by credit provider
167. Assignment by debtor, mortgagor or guarantor
168. Appropriation of payments
169. Contracting out
169A. Indemnities
170. Effect of noncompliance
171. Giving notice or other document
172. Manner of giving notice or other document
173. Date of notice or other document
173A. Attribution of electronic communications
174. Extensions of time
175. Orders of Court
176. Conduct of agents and related matters
177. Reciprocal conferral of powers and jurisdiction

Division 4 -- Provisions relating to offences

178. Penalty at end of provision
179. Penalty units
180. Summary offences
181. Double jeopardy
182. Aiding and abetting, attempts
182A. Offences by officers, agents or employees
183. Offences by corporations
184. Limitations

PART 12 -- Transitional provisions

Division 1 -- Transitional provision for Consumer Credit (Queensland) Amendment Act 2001

185. Provision for particular contracts ending after commencement of amendment

Division 2 -- Transitional provision for Consumer Credit (Queensland) Amendment Act 2002

186. Time limits under s 113A for certain civil penalty orders
SCHEDULE 1 -- Principal definitions
SCHEDULE 2 -- Miscellaneous provisions relating to interpretation
Compilation table

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