State Housing Amendment Regulation (No. 1) 2000 (Qld)

Queensland Subordinate Legislation 2000 No. 110 State Housing Act 1945 STATE HOUSING AMENDMENT REGULATION (No. 1) 2000 TABLE OF PROVISIONS Section Page 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 2 Commencement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Regulation amended . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 4 Insertion of new pt 3A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 PART 3A—STANDARD INTEREST RATE POLICY 17A Standard interest rate policy—Act, s 32AA(2) . . . . . . . . . . . . . . . . . 2

s1 2 s4 State Housing Amendment (No. 1) No. 110, 2000 ˙ Short title 1. This regulation may be cited as the State Housing Amendment Regulation (No. 1) 2000 . ˙ Commencement 2. This regulation commences on 12 June 2000. ˙ Regulation amended 3. This regulation amends the State Housing Regulation 1998 . ˙ Insertion of new pt 3A 4. After section 17— insert — ‘ PART 3A—STANDARD INTEREST RATE POLICY ˙ ‘ Standard interest rate policy—Act, s 32AA(2) ‘ 17A.(1) The standard interest rate policy is as follows— (a) for setting the standard fixed interest rate for a period, the rate set— (i) must not be more than the greatest of the bank standard fixed interest rates, for the period, applicable on the chosen day for the setting; and (ii) must not be less than the lowest of the bank standard fixed interest rates, for the period, applicable on the day; (b) for setting the standard variable interest rate, the rate set— (i) must not be more than the greatest of the bank standard variable interest rates applicable on the chosen day for the setting; and (ii) must not be less than the lowest of the bank standard variable interest rates applicable on the day.

s4 3 s4 State Housing Amendment (No. 1) No. 110, 2000 ‘ (2) In this section— “bank standard fixed interest rates” , for a period, means the standard fixed interest rates charged by the major banks, for the period, for a residential loan. “bank standard variable interest rates” means the standard variable interest rates charged by the major banks for a residential loan. “chosen day” means the day, chosen by the Minister at the time of setting a standard interest rate, that is within 1 month before the Minister sets the rate. “major banks” means the following— (a) Australia and New Zealand Banking Group Limited ACN 005 357 522; (b) Commonwealth Bank of Australia ACN 123 123 124; (c) National Australia Bank Limited ACN 004 044 937; (d) Westpac Banking Corporation ACN 007 457 141. “residential loan” means a loan secured by a mortgage over a residential property that is occupied by the mortgagor under the mortgage.’. ENDNOTES 1. Made by the Governor in Council on 8 June 2000. 2. Notified in the gazette on 9 June 2000. 3. Laid before the Legislative Assembly on . . . 4. The administering agency is the Department of Housing. © State of Queensland 2000