Consumer Credit Amendment Regulation (No. 2) 1999 (Qld)

Queensland Subordinate Legislation 1999 No. 201 Consumer Credit (Queensland) Act 1994 CONSUMER CREDIT AMENDMENT REGULATION (No. 2) 1999 TABLE OF PROVISIONS Section Page 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 2 Commencement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Regulation amended . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 4 Insertion of new s 6D . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 6D Student loans—exemption from certain provisions of Code . . . . . . 2

s1 2 s4 Consumer Credit Amendment (No. 2) No. 201, 1999 ˙ Short title 1. This regulation may be cited as the Consumer Credit Amendment Regulation (No. 2) 1999 . ˙ Commencement 2. This regulation commences on 1 October 1999. ˙ Regulation amended 3. This regulation amends the Consumer Credit Regulation 1995 . ˙ Insertion of new s 6D 4. After section 6C— insert— ˙ ‘ Student loans—exemption from certain provisions of Code ‘ 6D.(1) The Code, other than sections 56(1) and 70 to 74, 1 does not apply to the provision of credit by a higher educational institution, or by an association of students of the institution, to a student of the institution on the grounds of hardship or of an emergency. ‘ (2) However, subsection (1) only applies if the institution or association gives the debtor and any guarantor the following things before the contract for the provision of credit is entered into by the debtor or the guarantee is signed by the guarantor— (a) a statement of the costs of the provision of credit, which must including any fees or charges payable and the interest rate applicable and may include other information; and (b) a copy of the terms and conditions of the contract for the provision of credit. 1 Sections 56 (Increase in guarantor’s liabilities), 70 (Court may reopen unjust transactions), 71 (Orders on reopening of transactions), 72 (Court may review unconscionable interest and other charges), 73 (Time limit) and 74 (Joinder of parties)

s4 3 s4 Consumer Credit Amendment (No. 2) No. 201, 1999 ‘ (3) In this section— “association of students” , of a higher educational institution, means a union, guild or other association of students— (a) of the institution; or (b) of the institution and of other higher educational institutions. “higher educational institution” means an institution within the meaning of the Higher Education Funding Act 198 (C 8 wlth), section 4.’. ENDNOTES 1. Made by the Governor in Council on 26 August 1999. 2. Notified in the gazette on 27 August 1999. 3. Laid before the Legislative Assembly on . . . 4. The administering agency is the Office of Fair Trading. © State of Queensland 1999