Australian Capital Territory Repealed Acts

This legislation has been repealed.

CREDIT ACT 1985 (REPEALED) - SECT 34

    (1)     If a credit sale contract or a loan contract is made, the credit provider shall, not later than 14 days after the date when the contract is made, give to the debtor the statement in the form approved for this section.

    (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 if the credit provider, an agent of the credit provider or a supplier in relation to whom the credit provider is a linked credit provider gives to the debtor at or before the time when the credit sale contract or loan contract is made the statement referred to in that subsection.