Consumer Credit Act 1972 (SA)

SOUTH AUSTRALIA

CONSUMER CREDIT ACT, 1972

This Act is reprinted pursuant to the Acts Republication Act, 1967, and incorporates all amendments in force as at 1 July 1991.

It should be noted that the Act was not revised (for obsolete references, etc.) by the Commissioner of Statute Revision prior to the publication of this reprint.

Consumer Credit Act, 1972

SUMMARY OF PROVISIONS

PART I

PRELIMINARY

Section

Short title

Commencement

Arraneement

Interpretation

Appllcation of this Act

PART I1

ADMINISTRATION

DIVISION 1-THE COMMISSIONER, ETC.

Administration of Act

Report

PART 111

CONTROL O F CREDIT PROVIDERS

DIVISION I-LICENSING OF CREDIT PROVIDERS

Obligation to be lirensed Appllcation for a llcence Duration of licences

Surrender of licence

Return of licences suspended or cancelled

Licence not to be transferable

DIVISION II-POWERS OF INVESTIGATION AND INQUIRY

lnve;tigations

Tribunal may exercise disciplinary powers

Record of disciplinary action to be kept

Registered address

Name in which a licensed credit provider is to carry on business

Corporation must employ licensed person as manager

PART IV

CREDIT TRANSACTIONS

Form of credit contract

Form of contract that is a sale by instalment

Prohibition of compound interest

Provision for payment of credit charge on determination of contract on default or otherwise

Provision where credit provider enforces security

CHARGES FOR THE PROCUREMENT O F CREDIT

Prohibition of procurement charges, etc.

PART Vl

HARSH AND UNCONSCIONABLE TERMS

Harsh and unconscionable terms

PART VII

MISCELLANEOUS

Duty to supply information

Assignment by credit provider

Assignment of interest by credit provider

Collateral securitv

i5signrnenl of ceitain inleresls

Approprialion of payments under more than one credit coniract

Manner in which credit is lo be pruvided

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54.          Advertisements

55. Canvassing

56. Nature of writing

57. False statements

59. Proceedings

60. Service

CONSUMER CREDIT ACT, 1972

being

Consumer Credit Act, 1972. No. 134 of 1972 [Assented to 7 December 19721'

as amended by

Consumer Credit Act Amendment Act, 1973. No. 7 of 1973 [Assented to 3 September 19731'

Consumer Credit Act Amendment.Act. 1980. No. 20 of 1980 [Assented to 17 April 19801

Nofe: Asrerisks indicafe repeal or deletion of rext. Forfurrher explanation see Appendix.

An Act to regulate and control the provision of credit; to repeal the Money-lenders Act,

1940-1971; and for other purposes.

BE IT ENACTED by the Governor of the State of South Australia, with the…