Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A loan to a company is unfair if, and only if:
(a) the interest on the loan was extortionate when the loan was made, or has since become extortionate because of a variation; or
(b) the charges in relation to the loan were extortionate when the loan was made, or have since become extortionate because of a variation;
even if the interest is, or the charges are, no longer extortionate.
(2) In determining:
(a) whether interest on a loan was or became extortionate at a particular time as mentioned in paragraph (1)(a); or
(b) whether charges in relation to a loan were or became extortionate at a particular time as mentioned in paragraph (1)(b);
regard is to be had to the following matters as at that time:
(c) the risk to which the lender was exposed; and
(d) the value of any security in respect of the loan; and
(e) the term of the loan; and
(f) the schedule for payments of interest and charges and for repayments of principal; and
(g) the amount of the loan; and
(h) any other relevant matter.