Australian Capital Territory Repealed Acts

This legislation has been repealed.

CREDIT ACT 1985 (REPEALED) - SECT 33

    (1)     If a person has signed an offer in writing to a credit provider to enter into a credit sale contract or a loan contract, the credit provider shall, not later than 14 days after accepting the offer, give to the debtor written notice of the acceptance endorsed on, or accompanied by, a copy of the offer.

    (2)     A credit provider that fails to comply with subsection (1) commits an offence.

Maximum penalty:

        (a)     for an individual—$2 000; and

        (b)     for a corporation—$10 000.

    (3)     Subsection (1) does not apply in relation to—

        (a)     an offer to enter into a credit sale contract relating to goods that, in accordance with the offer, is accepted by delivery of the goods; or

        (b)     an offer to enter into a credit sale contract relating to services that, in accordance with the offer, is accepted by the beginning of performance of the services.

    (4)     In this section:

"offer in writing" includes a document that, if signed by or on behalf of the credit provider and the debtor, would be a credit sale contract or a loan contract.