Money Lenders Act Amendment Act 1974 (WA)

WESTERN AUSTRALIA.

MONEY LENDERS.

No. 53 of 1974.

AN ACT to amend the Money Lenders Act, 1912-1970.

Assented to 26th November, 1974.1

BE it enacted by the Queen's Most ExcellentMajesty, by and with the advice and consent of the Legislative Council and the Legislative Assembly of Western Australia, in this present Parliament assembled, and by the authority of the same, as follows:-

1. (1) This Act may be cited as the Money retiattron.

Lenders Act Amendment Act, 1974.

(2) In this Act the Money Lenders Act, 1912-1970 Approved for reprint 10th

is referred to as the principal Act.

Apr11, 1968,as amended

by Act No. 111

(3) The principal Act as amended by this Act of 1970.

may be cited as the Money Lenders Act, 1912-1974.

No. 53.] Money Lenders. [1974.

Commence-

ment. 2. This Act shall come into operation on a date to

be fixed by proclamation.

Section 3

amended.	3.	Section 3 of the principal Act is amended by
(Definition

of "Money	substituting for the words "twelve and one-half per
lender.").	centum per annum"

in lines seven and eight of the section; and the words "such rate per centum per annum as may pursuant to the provisions of this Act be from time to time prescribed for the purposes of this section", in each case. (b) in lines eight and nine of paragraph (d),

(a)

Section I1A

amended.	4. Subsection (1) of section 11A of the principal
(Prescribed

maximum

Act is amended

rate of

interest.)

(a)	by adding after the word "prescribed" where first occurring in line twelve, the words "for the purposes of this section";
(b)	by adding after the word "interest", in line thirteen, the words "for those pur- poses"; and
(c)	by deleting the last paragraph of the sub- section.

Section 20A

repealed.	5. Section 20A of the principal Act is repealed.
Section 22
added.	6. The principal Act is amended by adding after

section 21 a section as follows-

Regulations. 22. The Governor may make regulations pre-

scribing the respective rates or maximum rates, as the case may be, of interest for the purposes of respective sections of this Act. .