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This is a Bill, not an Act. For current law, see the Acts databases.


CONSUMER CREDIT (QUEENSLAND) AMENDMENT BILL 2001

      Queensland




 CONSUMER CREDIT
   (QUEENSLAND)
AMENDMENT BILL 2001

 


 

 

Queensland CONSUMER CREDIT (QUEENSLAND) AMENDMENT BILL 2001 TABLE OF PROVISIONS Section Page 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 2 Commencement. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 3 Code amended . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 4 Amendment of s 7 (Provision of credit to which this Code does not apply) 4 5 Insertion of new pt 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 PART 12--TRANSITIONAL PROVISION FOR CONSUMER CREDIT (QUEENSLAND) AMENDMENT ACT 2001 185 Provision for particular contracts ending after commencement of amendment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

 


 

 

2001 A BILL FOR An Act to amend the Consumer Credit (Queensland) Act 1994 to make changes to the Consumer Credit Code

 


 

s1 4 s4 Consumer Credit (Queensland) Amendment Bill 2001 The Parliament of Queensland enacts-- 1 1 Short title Clause 2 This Act may be cited as the Consumer Credit (Queensland) Amendment 3 Act 2001. 4 2 Commencement Clause 5 This Act commences on a day to be fixed by proclamation. 6 3 Code amended Clause 7 This Act amends the Consumer Credit Code set out in the appendix to 8 the Consumer Credit (Queensland) Act 1994. 9 4 Amendment of s 7 (Provision of credit to which this Code does not 10 apply) Clause 11 (1) Section 7(1)-- 12 omit, insert-- 13 `(1) Short term credit. This Code does not apply to the provision of 14 credit if, under the contract-- 15 (a) the provision of credit is limited to a total period that does not 16 exceed 62 days; and 17 (b) the maximum amount of credit fees and charges that may be 18 imposed or provided for does not exceed 5% of the amount of 19 credit; and 20 (c) the maximum amount of interest charges that may be imposed or 21 provided for does not exceed an amount (calculated as if the 22 Code applied to the contract) equal to the amount payable if the 23 annual percentage rate were 24% per annum.'. 24 (2) Section 7(2), heading, before `prior'-- 25 insert-- 26 `express'. 27

 


 

s5 5 s5 Consumer Credit (Queensland) Amendment Bill 2001 (3) Section 7(2), first sentence, from `without'-- 1 omit, insert-- 2 `if, before the credit was provided, there was no express agreement 3 between the credit provider and the debtor for the provision of credit.'. 4 (4) Section 7(2), second sentence, before `agreed'-- 5 insert-- 6 `expressly'. 7 5 Insertion of new pt 12 Clause 8 After part 11-- 9 insert-- 10 `PART 12--TRANSITIONAL PROVISION FOR 11 CONSUMER CREDIT (QUEENSLAND) AMENDMENT 12 ACT 2001 13 `185 Provision for particular contracts ending after commencement of 14 amendment 15 `(1) This Code does not apply to the provision of short term credit if-- 16 (a) the contract is entered into before the commencement day; and 17 (b) the term of the contract ends after the commencement day. 18 `(2) In this section-- 19 "commencement day" means the day the Consumer Credit (Queensland) 20 Amendment Act 2001, section 4 commenced. 21 "short term credit" means the provision of credit mentioned in 22 section 7(1) as in force immediately before the commencement day.'. 23 24 State of Queensland 2001

 


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