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This is a Bill, not an Act. For current law, see the Acts databases.
Western Australia
Consumer Credit (Western Australia)
Amendment Bill 2001
CONTENTS
1. Short title 1
2. Commencement 2
3. Act Amended 2
4. Section 12 amended 2
5. Section 7 of the Consumer Credit (Western Australia)
Code amended 3
6. Part 12 inserted in the Consumer Credit (Western
Australia) Code 4
page i
52--1
Western Australia
LEGISLATIVE COUNCIL
Consumer Credit (Western Australia)
Amendment Bill 2001
A Bill for
An Act to amend the Consumer Credit (Western Australia) Act 1996
and for related purposes.
The Parliament of Western Australia enacts as follows:
1. Short title
This Act may be cited as the Consumer Credit (Western
Australia) Amendment Act 2001.
page 1
Consumer Credit (Western Australia) Amendment Bill 2001
s. 2
2. Commencement
This Act comes into operation on a day fixed by proclamation.
3. Act Amended
This Act amends the Consumer Credit (Western Australia)
5 Act 1996*.
[* Act No. 30 of 1996.
For subsequent amendments see 2000 Index to Legislation of
Western Australia, Table 1, p. 89-90 and Act No. 10 of 2001.]
4. Section 12 amended
10 (1) After section 12(1) the following subsection is inserted --
"
(1a) In the case of a short term credit contract, the
regulations may require interest charges and all credit
fees and charges under the contract to be included for
15 the purpose of calculating the maximum annual
percentage rate under the contract for the purposes of
subsection (1).
".
(2) At the end of section 12 the following subsection is inserted --
20 "
(4) In this section --
"short term credit contract" means --
(a) a contract for the provision of credit limited
to a total period that does not exceed 62 days
25 that is not exempted from the Code under
section 7(1) of the Code; or
(b) a contract of a kind prescribed by the
regulations.
".
page 2
Consumer Credit (Western Australia) Amendment Bill 2001
s. 5
5. Section 7 of the Consumer Credit (Western Australia) Code
amended
(1) The amendments in this section are to section 7 of the
Consumer Credit (Western Australia) Code set out in the
5 Appendix to the Consumer Credit (Western Australia) Act 1996.
(2) Section 7(1) is repealed and the following subsection is inserted
instead --
"
(1) Short term credit. This Code does not apply to the
10 provision of credit if, under the contract --
(a) the provision of credit is limited to a total
period that does not exceed 62 days; and
(b) the maximum amount of credit fees and charges
that may be imposed or provided for does not
15 exceed 5% of the amount of credit; and
(c) the maximum amount of interest charges that
may be imposed or provided for does not
exceed an amount (calculated as if the Code
applied to the contract) equal to the amount
20 payable if the annual percentage were 24% per
annum.
".
(3) The heading to section 7(2) is amended by inserting after
"Credit without" --
25 " express ".
(4) Section 7(2) is amended as follows:
(a) by deleting "without prior agreement between the credit
provider and the debtor" and inserting instead --
"
30 if, before the credit was provided, there was no express
agreement between the credit provider and the debtor
for the provision of credit
";
page 3
Consumer Credit (Western Australia) Amendment Bill 2001
s. 6
(b) by inserting after "there is no" --
" expressly ".
6. Part 12 inserted in the Consumer Credit (Western Australia)
Code
5 The Consumer Credit (Western Australia) Code set out in the
Appendix to the Consumer Credit (Western Australia) Act 1996
is amended by inserting the following Part after Part 11 --
"
Part 12 -- Transitional provision for Consumer
10 Credit (Western Australia) Amendment Act 2001
185. Provision for particular contracts ending after
commencement of amendment
(1) This Code does not apply to the provision of short term
credit if --
15 (a) the contract is entered into before the
commencement day; and
(b) the term of the contract ends after the
commencement day.
(2) In this section --
20 "commencement day" means the day on which the
Consumer Credit (Western Australia) Amendment
Act 2001 comes into operation;
"short term credit" means the provision of credit
mentioned in section 7(1) as in force immediately
25 before the commencement day.
".
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