Consumer Credit Amendment Regulation 2000 (WA)
| J966 | GOVERNMENT GAZETTE, WA | 124 October 2000 |
FAIR TRADING
FT3O1
Consumer Credit (Western Australia) Act 1996
Consumer Credit Amendment Regulation 2000
Made by the Governor in Executive Council.
1. Citation
This regulation may be cited as the Consumer Credit
Amendment Regulation 2000.2. Commencement
This regulation comes into operation on 28 October 2000.3. The regulations amended
The amendments in this regulation are to the Consumer Credit
Regulation 1996*.[* Reprinted as at 28 April 2000.1
4. Section 1 repealed and replaced
Section 1 is repealed and the following section is inserted instead -
1. Citation
These regulations may be cited as the Consumer Credit
(Western Australia) Regulations 1996.
which credit is first provided under the contract.
5. Section 22 amended
(1) Section 22 is amended by inserting before "For the purposes"
the subsection designation "(1)".(2) At the end of section 22 the following subsection is inserted - (2) Despite subsection (1), the matter in subsection (1)(h) and (i) relating to the total amount of repayments need only be included in the written notice given under
section 65(3) of the Code if the contract concerned
would, on the assumptions under sections 158 and 160
of the Code, be paid out within 7 years of the date on
24 October 20001 GOVERNMENT GAZETTE, WA 5967 6. Section 40 repealed and replaced
Section 40 is repealed and the following section is inserted instead -
40. Address for notices
(1) For the purposes of section 171(4) or (6) of the Code, a
nomination is to be in the following form -
(a)
the nomination is to contain the words "I/We nominate...................[full name of person nominated] to receive notices and other documents under the Consumer Credit Code on behalf of me/all of us";
(b)
the nomination is to contain a prominent statement that each debtor/mortgagor/guarantor is entitled to receive a copy of any notice or other document under the Code and that by signing the form they are giving up the right to be provided with information direct from the credit provider;
(c)
the nomination is to contain a prominent statement that any person who has signed the form can advise the credit provider at any time in writing that they wish to cancel their nomination.
(2) For the purposes of section 17 1(5) of the Code, a
consent is to be in the following form -
(a)
the consent is to contain the words "We consent to notices and other documents under the Consumer Credit Code to us being sent jointly to us at .....................[address for service]";
(b) the consent is to contain a prominent statement that each debtor/mortgagor/guarantor is entitled to receive a copy of any notice or other
document under the Code and that by signing
the form they are giving up the right to be
provided with information separately from the
credit provider;(c) the consent is to contain a prominent statement that any person who has signed the form can advise the credit provider at any time in writing that they wish to cancel their consent. 7. Section 58 amended
Section 58(5)(b) is amended by deleting "not later than
48 months after the commencement of the Code." and inserting
instead -46 on or before 27 October 2000. ".
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8. Section 59 amended
Section 59(4) is amended by deleting "not later than 48 months after the commencement of the Code." and inserting instead -
46
on or before 27 October 2000. ".
9. Section 60 amended
Section 60(3) is amended by deleting "not later than 48 months after the commencement of the Code." and inserting instead -
46
on or before 27 October 2000. ".
10. Section 61 amended
Section 61(2)(b) is amended by deleting "not later than
48 months after the commencement of the Code." and inserting
instead -46 on or before 27 October 2000. ".
11. Section 62 amended
Section 62(2) is amended by deleting "not later than 48 months after the commencement of the Code." and inserting instead -
46
on or before 27 October 2000. ".
12. Section 63 amended
Section 63(5) is amended by deleting "not later than 48 months after the commencement of the Code." and inserting instead -
44
on or before 27 October 2000. ".
13. Section 64 amended
Section 64(2)(b) is amended by deleting "not later than
48 months after the commencement of the Code." and inserting instead -
46
on or before 27 October 2000. ".
14. Section 65 amended
Section 65(2)(b) is amended by deleting "not later than
48 months after the commencement of the Code." and inserting
instead -46 on or before 27 October 2000. ".
15. Section 66 amended
Section 66(3) is amended by deleting "not later than 48 months after the commencement of the Code." and inserting instead -
46
on or before 27 October 2000. ".
24 October 20001 GOVERNMENT GAZETTE, WA 5969 16. Section 67 amended
Section 67(4) is amended by deleting "not later than 48 months after the commencement of the Code." and inserting instead -
46
on or before 27 October 2000. ".
17. Section 68 amended
Section 68(3) is amended by deleting "not later than 48 months after the commencement of the Code." and inserting instead -
46
on or before 27 October 2000. ".
18. Section 69 amended
Section 69(3) is amended by deleting "not later than 48 months after the commencement of the Code." and inserting instead -
46
on or before 27 October 2000. ".
19. Section 70 amended
Section 70(5) is amended by deleting "not later than 48 months after the commencement of the Code." and inserting instead -
46
on or before 27 October 2000. ".
20. Section 71 amended
Section 7 1(3) is amended by deleting "not later than 48 months after the commencement of the Code." and inserting instead -
46
on or before 27 October 2000. ".
21. Section 72 amended
Section 72(3)(b) is amended by deleting "not later than
48 months after the commencement of the Code." and inserting instead -
44
on or before 27 October 2000. ".
22. Section 73 amended
Section 73 is amended by deleting "not later than 48 months after the commencement of the Code." and inserting instead -
46
on or before 27 October 2000. ".
23. Section 74 amended
Section 74(3) is amended by deleting "not later than 48 months after the commencement of the Code." and inserting instead -
46
on or before 27 October 2000. ".
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24. Section 75 amended
(1) Section 75(3) is amended by inserting after "writing"—
before the commencement of section 169A of the
Code (as inserted by the amending Act),
(2) Section 75(6) is amended by deleting "entered into not later than
48 months after the commencement of the Code" and inserting
instead -entered into before the commencement of section 169A
of the code (as inserted by the amending Act)
(3) At the end of section 75 the following subsection is inserted - (7) In this section - "amending Act" means the Consumer Credit (Western
Australia) Amendment Act 2000.
25. Part Ii amended
At the end of Part lithe following division is inserted -Division 4 - Transitional provisions arising from
amending Act
78. Definition
In this division -
"amending Act" means the Consumer Credit (Western
Australia) Amendment Act 2000.
79. Inclusion of additional information in financial table
Information relating to the period over which repayments are to be made may continue to be, but need not be, included in the information required to be provided in the precontractual statement, as set out in section 13 of this regulation, despite the amendment of section 15F of the Code by the amending Act.
80. Changes to key requirements
Nothing done by the amending Act affects any liability of a person under Part 6 Division 1 in respect of a contravention of a key requirement that occurred before the amendment by that Act of the provision containing the key requirement.
24 October 20001 GOVERNMENT GAZETTE, WA 5971 81. Limitation of guarantor's liability
Section 55 of the Code, as in force before its
amendment by the amending Act, continues to apply to
a guarantee signed before the commencement of the
amendment but ceases to so apply if the guarantor's
liabilities are increased in accordance with section 56
of the Code.82. Nominations to receive notices
and in force immediately before the repeal of that
provision, is taken to have been given under
section 17 1(4) of the Code, as inserted by the amendingA nomination given under section 17 1(3) of the Code, person who gave it.
26. Schedule amended - Form 2
(1) The Schedule is amended in Form 2 by deleting clauses 2 and 3 and inserting the following clauses instead -
2. How can I get a copy of the final contract?
If the contract document is to be signed by you and returned
to your credit provider, you must be given a copy to keep.Also, the credit provider must give you a copy of the final contract within 14 days after it is made. This rule does not, however, apply if the credit provider has previously given you a copy of the contract document to keep.
If you want another copy of your contract write to your credit provider and ask for one. Your credit provider may charge you a fee. Your credit provider has to give you a copy -
• within 14 days of your written request if the
original contract came into existence 1 year or
less before your request; or
otherwise within 30 days of your written request.
3. Can I terminate the contract?
Yes. You can terminate the contract by writing to the credit provider so long as -
you have not obtained any credit under the
contract; or
• a card or other means of obtaining credit given to you by your credit provider has not been used to acquire goods or services for which credit is to be provided under the contract.
However, you will still have to pay any fees or charges incurred before you terminated the contract.
| 5972 | GOVERNMENT GAZETTE, WA | 124 October 2000 |
(2) The Schedule is amended in Form 2 by deleting from clause 8
"30 days" and inserting instead -46 20 days ". (3)
The Schedule is amended in Form 2 by deleting from clause 16 "if, when the credit provider gives you a copy of the mortgage document to sign and return to the credit provider, you are also given a copy of the mortgage document to keep" and inserting instead -
if the credit provider has previously given you a copy of the
mortgage document to keep
27. Schedule amended - Form 3A
The Schedule is amended in Form 3A by deleting from the first item under "THINGS YOU MUST KNOW", "(or try to obtain) any credit" and inserting instead -
33
credit, or a card or other means is used to
obtain goods or services for which credit is
to be provided under the contract,
28. Schedule amended - Form 3B
The Schedule is amended in Form 3B by deleting from the first item under "THINGS YOU MUST KNOW", "(or try to obtain) any credit" and inserting instead -
credit, or a card or other means is used to
obtain goods or services for which credit is
to be provided under the contract,
29. Schedule amended - Form 5A
The Schedule is amended in Form 5A by inserting in clause 3, after "the signed guarantee" -
46
(if you do not already have a copy of the guarantee) ".
30. Schedule amended - Form 6
The Schedule is amended in Form 6, in the paragraph headed
"FINALISING THE CONTRACT", as follows:
(a) by deleting from the fourth dot point "enforcing the
mortgage." and inserting instead -
enforcing the mortgage; and ";
24 October 20001 GOVERNMENT GAZETTE, WA 5973 (b) by inserting after the fourth dot point the following dot
point —
44
• the expenses reasonably incurred by the credit provider in connection with the possession and sale of the mortgaged goods.
(c) by deleting the last dot point and inserting instead —
44
• amount required to pay out the credit contract or the amount due under the guarantee.
31. Schedule amended — Form 11
The Schedule is amended in Form 11 clause 1 by inserting after
"enters into the consumer lease" —44 , unless you already have a copy of the consumer lease ".
By Command of the Governor,
M. C. WAUCHOPE, Clerk of the Executive Council.
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