Western Australian Consolidated Regulations

CONSUMER CREDIT (WESTERN AUSTRALIA) CODE REGULATIONS

TABLE OF PROVISIONS

   PART 1 -- Preliminary  

   1.      Citation  
   2.      Commencement  
   3.      Definition  
   4.      Forms  

   PART 2 -- Matters prescribed for the purposes of Part 1 of the Code (Preliminary)  

   5A.     Continued application of Part 11 of the Code and interpretation  
   5B.     Application of Code to provision of credit under bill facilities  
   5.      Exempt credit--maximum account charges  
   6.      Additional exempt credit  
   6A.     GIO Finance Limited’s No Interest Loan Scheme--exemption from Code  
   6B.     Rental Purchase Plan--exemption from certain provisions of Code  
   6C.     Partnership loans--exemption from certain provisions of Code  
   6D.     Student loans--exemption from certain provisions of Code  
   6E.     Loans for conservation of heritage items--exemption from Code  
   6F.     Authorised deposit-taking institutions--exemption from Code  
   6G.     Estate administrators -- exemption from certain provisions of Code  
   6H.     Credit under Aged Care Act 1997 (Cwlth) -- exemption from certain provisions of Code  
   6I.     Firefighter’s Benefit Fund of WA Incorporated  
   6J.     Charge card contracts -- exemption of certain contracts from Code  
   7.      Mortgages--exemptions from Code  
   8.      Guarantees--exemption from Code  
   9.      Deemed mortgages for goods lease with option to purchase  
   10.     Declaration of purposes for which credit provided  

   PART 3 -- Matters prescribed for the purposes of Part 2 of the Code (Credit contracts)  

   11.     Statement about debtor’s statutory rights and obligations  
   12.     Comparison rate  
   13.     Pre-contractual statement  
   14.     Additional disclosures about insurance financed by contract  
   15.     Additional disclosures about credit contracts to be signed by debtor  
   16.     Deduction of amount for interest charges  
   17.     Calculation of unpaid daily balances  
   18.     Early debit or payment of interest charges  
   19.     When statement of account not required  

   PART 4 -- Matters prescribed for the purposes of Part 3 of the Code (Related mortgages and guarantees)  

   19A.    Mortgage arising from certain home ownership schemes -- exemption from section 46(1) of the Code  
   20.     Form of guarantees  
   21.     Explanation about guarantor’s rights and obligations  

   PART 5 -- Matters prescribed for the purposes of Part 4 of the Code (Changes to obligations under credit contracts, mortgages and guarantees)  

   22.     Information about increases in the amount of credit  
   22A.    Application of sections 66 to 69 of the Code  

   PART 6 -- Matters prescribed for the purposes of Part 5 of the Code (Ending and enforcing credit contracts, mortgages and guarantees)  

   23.     Information after surrender of goods  
   23A.    Application of Part 5 Division 3 of the Code  
   24.     Consent to enter premises  
   25.     Statement about mortgagor’s rights and obligations  
   26.     Information about proceeds of sale of mortgaged goods  

   PART 7 -- Matters prescribed for the purposes of Part 7 of the Code (related sale contracts)  

   27.     Rate of interest on damages  
   28.     Informing debtor of rights  
   29.     Rebate of consideration  

   PART 8 -- Matters prescribed for the purposes of Part 8 of the Code (Related insurance contracts)  

   30.     Particulars of insurance entered into by credit provider  
   31.     Proportionate rebate of consumer credit insurance premium  
   32.     Notice of right to cancel mortgaged property insurance  
   33.     Proportionate rebate of premium for insurance over mortgaged property  

   PART 8A -- Matters prescribed for the purposes of Part 9A of the Code (Comparison rates)  

   33A.    Relevant comparison rate where annual percentage rate stated  
   33B.    Information about whether comparison rate relates to secured loan  
   33C.    Warnings about comparison rate  
   33D.    Relevant comparison rate schedules  
   33E.    Information about whether comparison rate relates to secured loan  
   33F.    Calculation of comparison rates  
   33G.    Exemption of certain premises  
   33H.    Exemptions in relation to comparison rate schedules  
   33HA.   Matters that may be included in comparison rate schedules  
   33I.    Expiry of part  

   PART 9 -- Matters prescribed for the purposes of Part 10 of the Code (Consumer leases)  

   34.     Declaration about purpose of leases  
   35.     Explanation about rights and obligations of consumer lessees  

   PART 10 -- Matters prescribed for the purposes of Part 11 of the Code (Miscellaneous)  

   36.     Tolerances relating to disclosures  
   37.     Tolerances relating to amounts payable etc.  
   38.     Additional assumptions relating to disclosures  
   38A.    Contracts linked to loan account offset arrangements  
   39.     Requirements for print or type  
   39A.    Exemptions in relation to electronic communications  
   40.     Address for notices  

   PART 11 -- Savings and transitional provisions  

           Division 1 -- General  

   40A.    Transitional provisions  
   41.     Definitions  

           Division 2 -- Savings and transitional provisions generally  

   42.     Application of Code--pre-Code contracts other than continuing credit contracts  
   43.     Application of Code--pre-Code continuing credit contracts  
   44.     Application of Code--mortgages and guarantees  
   45.     Application of Code--goods leases with option to purchase  
   46.     Application of Code--purpose for which credit is provided  
   47.     Presumptions relating to application of Code to pre-Code continuing credit contracts  
   48.     Disclosures to debtors under pre-Code continuing credit contracts  
   49.     Special transitional provision with respect to pre-determined credit charge  
   50.     Special transitional provision with respect to early payment of interest  
   51.     First statement of opening balance for pre-Code continuing credit contracts  
   52.     Variation of existing pre-Code non-continuing credit contracts to increase credit  
   53.     Variation of existing contracts imposing monetary liabilities prohibited by Code  
   54.     Application of Code--hardship and unjust transactions with respect to pre-Code continuing credit contracts  
   55.     Previous default notice  
   56.     Application of Code--related sale contracts  
   57.     Application of Code--consumer leases  

           Division 3 -- Special transitional provisions  

   58.     Credit fees and charges  
   59.     Matters to be included in contract document  
   60.     Copies of contracts and mortgages for debtors  
   61.     End of day for purposes of credit contracts  
   62.     Early debit of interest charges  
   63.     Dating and adjustment of debits and credits in accounts  
   64.     Statements of account for multiple facility contracts  
   65.     Requirements for statements of amounts owing  
   66.     Particulars of interest rate changes  
   67.     Particulars of repayment changes  
   68.     Particulars of credit fees and charges changes  
   69.     Particulars of unilateral changes by credit provider  
   70.     Agreed changes to contracts, mortgages and guarantees  
   71.     Particulars of changes on grounds of hardship  
   72.     Key requirements  
   73.     Termination of insurance contracts  
   74.     Application of Code to related insurance contracts  
   75.     Contribution to civil penalties by participants in programs  
   76.     Recovery by nominated credit provider  
   77.     Effect of ss 75–76  

           Division 4 -- Transitional provisions arising from amending Act  

   78.     Definition  
   79.     Inclusion of additional information in financial table  
   80.     Changes to key requirements  
   81.     Limitation of guarantor’s liability  
   82.     Nominations to receive notices  
           SCHEDULE