Sch 7Statement of account in relation to continuing credit contract

Schedule 7 — Statement of account in relation to continuing credit contract [s. 61] 1. A statement of account for a continuing credit contract shall include a statement of — (a) the date of the last day of the billing cycle; and (b) the amount owed by the debtor under the contract on the first day of the billing cycle; and (c) the amount owed by the debtor under the contract on the last day of the billing cycle; and (d) the date of purchase and cash price of goods or services supplied by the credit provider during the billing cycle in respect of payment for which credit is provided under the contract and such a description of each transaction as will enable it to be identified; and (e) particulars, including the amount, of each amount of cash supplied by the credit provider during the billing cycle in respect of the supply of which credit is provided under the contract; and (f) particulars of each amount in respect of which, under the contract, credit is provided to the debtor during the billing cycle in respect of goods or services or cash supplied by a person other than the credit provider and in relation to each such amount particulars of the suppliers of the goods or services or of the cash to which the amount relates; and (g) particulars of each amount paid by the debtor to the credit provider under the contract during the billing cycle; and (h) each amount (not being a payment by the debtor to the credit provider) by way of refund or allowance given to the debtor during the billing cycle; and (i) particulars of each amount (not being a payment by the debtor to the credit provider) by reason of which an amount included in an amount referred to in paragraph (d), (e), (f), (j), (k) or (l) is cancelled or reduced by reason of an amount by way of refund or allowance given to the debtor during the billing cycle; and (j) where the statement of account includes a statement under paragraph (d) of amounts relating to goods — particulars, so far as they are known or can be ascertained, of amounts included in that amount in respect of — (i) charges for installation of the goods; or (ii) charges for maintenance of the goods; or (iii) charges for delivery of the goods to the debtor, unless included in the cash price of the goods under paragraph (d); and (k) particulars of amounts that, during the billing cycle, are added to the amount payable under the contract by the debtor to the credit provider, whether or not the credit provider pays, or has paid, those amounts to another person, in respect of contracts of insurance (if any) entered into in relation to the contract showing separately in respect of each such contract the name of the insurer and — (i) where there is a mortgage relating to the contract, amounts so payable in respect of insurance of property subject to the mortgage; and (ii) where there is a mortgage relating to the contract, amounts so payable in respect of insurance against loss of the security interest of the mortgagee in any goods subject to the mortgage by reason of any Act; and (iii) amounts so payable in respect of insurance against sickness of, accidental injury to, or disability or death of, the debtor or against unemployment of the debtor or, where there is more than one debtor, amounts so payable in respect of such insurance in relation to the debtors; and (iv) amounts so payable in respect of life insurance of the debtor or, where there is more than one debtor, amounts so payable in respect of life insurance of the debtors; and [(v) deleted] (vi) amounts so payable in respect of insurance against loss of profits by the debtor or, where there is more than one debtor, amounts so payable in respect of insurance against loss of profits, by the debtors; and (vii) amounts so payable in respect of insurance against such other risks (if any) as are prescribed, or, where an amount is payable in respect of a contract of insurance entered into in relation to the contract relating to one or more of the risks referred to in the preceding subparagraphs — that amount and a statement of the risks to which the amount relates; and (l) amounts that during the billing cycle are added to the amount payable under the contract by the debtor to the credit provider in respect of — (ii) stamp duty payable in respect of or in relation to any mortgage relating to the contract entered into during the billing cycle; and (m) the amount of the credit charge in respect of the billing cycle; and (n) the annual percentage rate in respect of the contract and the manner of its application to the contract; and (o) where the statement of account includes a request for payment of an amount by the debtor — (i) the amount payable or the manner in which it may be ascertained from the statement; and (ii) the person to whom and the place at which the amount is payable; and (iii) the date before which the amount is to be paid; and (p) particulars of amounts that during the billing cycle are added to the amount payable under the contract by the debtor to the credit provider and are the consideration, or part of the consideration, for the discharge of the liability of the debtor to the credit provider under a contract in force before the first day of the billing cycle other than consideration referred to in a preceding paragraph; and (q) particulars of any amount transferred to or from the account to which the statement relates from or to any other account maintained under the contract; and (r) particulars of amounts that during the billing cycle are added to the amount payable under the contract by the debtor to the credit provider in respect of the value of any consideration provided by the credit provider to the debtor, being consideration of a kind prescribed for the purposes of this paragraph, other than consideration referred to in a preceding paragraph. [Clause 1 amended: No. 58 of 1992 s. 7(c)(i) and (ii).] 2. In clause 1 — (a) a reference to an amount paid, or owed by or supplied to, or in respect of which credit is provided to or given by way of refund or allowance to, a debtor under a continuing credit contract at a particular time or during a particular period — (i) does not include a reference to an amount paid or owed by, or supplied to, or in respect of which credit is provided to, or given by way of refund or allowance to, the debtor at that time or during that period that is not at that time or during that period entered in an account of the debtor kept by the credit provider; and (ii) includes a reference to an amount paid or owed by or supplied to, or in respect of which credit is provided to, or given by way of refund or allowance to, the debtor before that time or period that has not been included in an earlier statement of account under the contract; and (b) a reference to goods or services supplied to a debtor during a billing cycle — (i) does not include a reference to goods or services supplied to a debtor during a billing cycle but in respect of which an amount is not during the billing cycle entered in an account of the debtor kept by the credit provider; and (ii) includes a reference to goods or services supplied before the commencement of the billing cycle but have not been included in an earlier statement of account under the contract. 3. If an amount payable in relation to a contract of life insurance is included in an amount disclosed under clause 1(k)(iii), nothing in this Schedule requires any further disclosure relating to that contract of life insurance. [Clause 3 inserted: No. 58 of 1992 s. 7(c)(iii).] ![dline]() Notes This is a compilation of the *Credit Act 1984* and includes amendments made by other written laws. For provisions that have come into operation, and for information about any reprints, see the compilation table. Compilation table | **Short title** | **Number and year** | | **Assent** | | **Commencement** | | | --- | --- | --- | --- | --- | --- | --- | | *Credit Act 1984* | 99 of 1984 | | 27 Dec 1984 | | s. 1 and 2: 27 Dec 1984; Act other than s. 1, 2 and 91(3): 31 Mar 1985 (see s. 2 and *Gazette* 8 Mar 1985 p. 867); s. 91(3) deleted by No. 8 of 2009 s. 44(2) | | | *Acts Amendment (Credit) Act 1989* Pt. 2 5 | 47 of 1989 | | 9 Jan 1990 | | s. 3: 31 Mar 1985 (see s. 2(2) and *Gazette* 8 Mar 1985 p. 867); s. 4 and 5: 9 Jan 1990 (see s. 2(1)) | | | *Credit Amendment Act 1992* | 58 of 1992 | | 11 Dec 1992 | | s. 1 and 2: 11 Dec 1992; Act other than s. 1 and 2: 11 Jan 1993 (see s. 2 and *Gazette* 8 Jan 1993 p. 25) | | | *Consumer Credit (Western Australia) Act 1996* s. 13 | 30 of 1996 | | 10 Sep 1996 | | 1 Nov 1996 (see s. 2) | | | *Statutes (Repeals and Minor Amendments) Act 1997* s. 39(10) | 57 of 1997 | | 15 Dec 1997 | | 15 Dec 1997 (see s. 2(1)) | | | *Acts Amendment and Repeal (Financial Sector Reform) Act 1999* s. 70 | 26 of 1999 | | 29 Jun 1999 | | 1 Jul 1999 (see s. 2(1) and *Gazette* 30 Jun 1999 p. 2905) | | | *Statutes (Repeals and Minor Amendments) Act 2000* s. 49 | 24 of 2000 | | 4 Jul 2000 | | 4 Jul 2000 (see s. 2) | | | **Reprint of the *Credit Act 1984* as at 6 Apr 2001** (includes amendments listed above) | | | | | | | | *Corporations (Consequential Amendments) Act 2001* Pt. 17 | 10 of 2001 | | 28 Jun 2001 | | 15 Jul 2001 (see s. 2 and *Gazette* 29 Jun 2001 p. 3257 and Cwlth *Gazette* 13 Jul 2001 No. S285) | | | *Building Societies Amendment Act 2001* s. 51 | 12 of 2001 | | 13 Jul 2001 | | 13 Jul 2001 (see s. 2) | | | *Acts Amendment (Equality of Status) Act 2003* Pt. 11 | 28 of 2003 | | 22 May 2003 | | 1 Jul 2003 (see s. 2 and *Gazette* 30 Jun 2003 p. 2579) | | | *Workers’ Compensation Reform Act 2004* s. 174 | 42 of 2004 | | 9 Nov 2004 | | 4 Jan 2005 (see s. 2 and *Gazette* 31 Dec 2004 p. 7131) | | | *Courts Legislation Amendment and Repeal Act 2004* s. 141 | 59 of 2004 | | 23 Nov 2004 | | 1 May 2005 (see s. 2 and *Gazette* 31 Dec 2004 p. 7128) | | | *State Administrative Tribunal (Conferral of Jurisdiction) Amendment and Repeal Act 2004* Pt. 2 Div. 30 6 | 55 of 2004 | | 24 Nov 2004 | | 1 Jan 2005 (see s. 2 and *Gazette* 31 Dec 2004 p. 7130) | | | *Criminal Procedure and Appeals (Consequential and Other Provisions) Act 2004* s. 82 | 84 of 2004 | | 16 Dec 2004 | | 2 May 2005 (see s. 2 and *Gazette* 31 Dec 2004 p. 7129 (correction in *Gazette* 7 Jan 2005 p. 53)) | | | **Reprint 2: The *Credit Act 1984* as at 24 Jun 2005** (includes amendments listed above) | | | | | | | | *Housing Societies Repeal Act 2005* s. 24 | 17 of 2005 | | 5 Oct 2005 | | 10 Jul 2010 (see s. 2(3) and *Gazette* 9 Jul 2010 p. 3239) | | | *Machinery of Government (Miscellaneous Amendments) Act 2006* Pt. 4 Div. 9 7 | 28 of 2006 | | 26 Jun 2006 | | 1 Jul 2006 (see s. 2 and *Gazette* 27 Jun 2006 p. 2347) | | | *Duties Legislation Amendment Act 2008* Sch. 1 cl. 6 | 12 of 2008 | | 14 Apr 2008 | | 1 Jul 2008 (see s. 2(d)) | | | *Statutes (Repeals and Miscellaneous Amendments) Act 2009* s. 44 | 8 of 2009 | | 21 May 2009 | | 22 May 2009 (see s. 2(b)) | | | *Credit (Commonwealth Powers) (Transitional and Consequential Provisions) Act 2010* s. 9 and 36 | 14 of 2010 | | 25 Jun 2010 | | 1 Jul 2010 (see s. 2(b) and *Gazette* 30 Jun 2010 p. 3185) | | | *Standardisation of Formatting Act 2010* s. 4 | | 19 of 2010 | | 28 Jun 2010 | | 11 Sep 2010 (see s. 2(b) and *Gazette* 10 Sep 2010 p. 4341) | | **Reprint 3: The *Credit Act 1984* as at 11 Mar 2011** (includes amendments listed above) | | | | | | | | *Road Traffic Legislation Amendment Act 2012* Pt. 4 Div. 12 | | 8 of 2012 | | 21 May 2012 | | 27 Apr 2015 (see s. 2(d) and *Gazette* 17 Apr 2015 p. 1371) | | *Statutes (Repeals and Minor Amendments) Act 2014* s. 20 | | 17 of 2014 | | 2 Jul 2014 | | 6 Sep 2014 (see s. 2(b) and *Gazette* 5 Sep 2014 p. 3213) | | *Strata Titles Amendment Act 2018* Pt. 3 Div. 4 | | 30 of 2018 | | 19 Nov 2018 | | 1 May 2020 (see s. 2(b) and SL 2020/39 cl. 2) | | *Community Titles Act 2018* Pt. 14 Div. 4 | | 32 of 2018 | | 19 Nov 2018 | | 30 Jun 2021 (see s. 2(b) and SL 2021/69 cl. 2) | | *Workers Compensation and Injury Management Act 2023* s. 709 | | 21 of 2023 | | 24 Oct 2023 | | 1 Jul 2024 (see s. 2(d) and SL 2024/34 cl. 2) | | Other notes