Credit (Rental Purchase Contracts Exemption) Order 1992 (Qld)

Queensland Subordinate Legislation 1992 No. 353 Credit Act 1987 CREDIT (RENTAL PURCHASE CONTRACTS EXEMPTION) ORDER 1992 TABLE OF PROVISIONS Section Page 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 2 Section 15 of Act not to apply to rental purchase contracts . . . . . . . . . . . . 2

2 Credit (Rental Purchase Contracts Exemption) No. 353, 1992 ˙ Short title 1. This order in council may be cited as the Credit (Rental Purchase Contracts Exemption) Order 1992 . ˙ Section 15 of Act not to apply to rental purchase contracts 2.(1) Section 15 of the Act does not have effect in relation to a contract for the hiring of goods unless the amount payable under the contract is more than the cash price of the goods. (2) “Amount payable” includes the agreed or residual value of the goods— (a) at the end of the rental period; or (b) on termination of the contract by either of the parties. (3) “Amount payable” does not include— (a) the amount payable in respect of services that are incidental to the hire of the goods under the contract; or (b) the amount that ceases to be payable on the termination of the contract following the exercise of a right of cancellation by the hirer at the earliest opportunity. ENDNOTES 1. Made by the Governor in Council on 12 November 1992. 2. Notified in the Gazette on 13 November 1992. 3. Laid before the Legislative Assembly on . . . 4. The administering agency is the Department of Justice. The State of Queensland 1992