Australian Capital Territory Repealed Acts

This legislation has been repealed.

CREDIT ACT 1985 (REPEALED) - SECT 44

    (1)     A provision in a credit sale contract or a loan contract to the effect that the minimum credit charge exceeds—

        (a)     if the amount financed under the contract is not more than $75—$5 or, if some other amount is prescribed for this paragraph, that other amount; or

        (b)     if the amount financed under the contract is more than $75—$7.50 or, if some other amount is prescribed for this paragraph, that other amount;

is void.

    (2)     A credit provider that enters into a credit sale contract or a loan contract that includes a provision that is void because of subsection (1) commits an offence.

Maximum penalty:

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

        (b)     for a corporation—$10 000.