Western Australian Consolidated Acts Western Australian Consolidated Acts (1) Subject to the
provisions of the Credit Act 1984 , the
Consumer Credit (Western Australia) Act 1996 and the Consumer
Credit (Western Australia) Code , there shall be no limit to the amount of
interest which any person may lawfully contract to pay.
(2) In all cases where
interest for the loan of money, or upon any other contract, may be lawfully
recovered or allowed in any action, suit, or other proceeding in the Supreme
Court, or any other court of law or equity, but where the rate of such
interest has not been previously agreed upon by or between the parties, it
shall not be lawful for the party entitled to interest to recover or be
allowed in any such action, suit, or other proceedings above the rate of $6
for interest or forbearance of $100 for a year, and so after that rate for a
greater or lesser sum or for a longer or shorter time.
[Section 31 amended by No. 113 of 1965
s. 8; No. 102 of 1984 s. 17; No. 30 of 1996 s. 13.]