Credit (Amendment) Act 1988 (ACT)

AUSTRALIAN CAPITAL TERRITORY

Credit (Amendment) Ordinance 1988

No. 76 of 1988

I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Ordinance under the Seat of Government (Administration) Act 1910.

Dated 27 October 1988.

N. M. STEPHEN

Governor-General

By His Excellency’s Command,

CLYDE HOLDING

Minister of State for the Arts
and Territories

An Ordinance to amend the Credit Ordinance 1985

Short title

1.  This Ordinance may be cited as the Credit (Amendment) Ordinance 1988.1

Principal Ordinance

2.  In this Ordinance, “Principal Ordinance” means the Credit Ordinance 1985.2

Postponement of exercise of rights

3.  Section 116 of the Principal Ordinance is amended by omitting from paragraph (1) (a) “sub-section 107 (5)” and substituting “subsection 107 (4)”.

Signature of documents

4.  Section 250 of the Principal Ordinance is amended—

(a)by omitting from subsection (1) all the words after “signed by a person,” and substituting “it is sufficient if the document is signed by another person for and on behalf of the person first referred to”;

(b)by omitting subsection (2);

(c)by omitting from subsection (3) all the words from and including “the debtor writes” to and including “on a document” and substituting “a debtor, for and on behalf of the debtor, signs a document”;

(d)by omitting from subsection (3) all the words after “the person” and substituting “shall do so in the presence of a witness, other than the debtor or credit provider, and shall indicate on the document that he or she signs for and on behalf of the debtor”;

(e)by omitting from paragraph (4) (b) “wrote the signature of the debtor on the document” and substituting “signed the document for and on behalf of the debtor”;

(f)by omitting from subsection (5) “(2) or”;

(g)by omitting from subsection (6) “(2) or”;

(h)by omitting from subsection (7) all the words from and including “Where the signature” to and including “writes the signature of a debtor” and substituting “Where the signature of a person written for and on behalf of the debtor”;

(i)by omitting from paragraph (7) (a) “(2) or”; and

(j)by omitting from subsection (7) “(2), (3)” and substituting “(3)”.

NOTES

1. Notified in the Commonwealth of Australia Gazette on 9 November 1988.

2. No. 5, 1985 as amended by Nos. 39, 60 and 67, 1985; Nos. 29, 30, 56 and 72, 1986; No. 4, 1987.