Western Australia regulation

Credit (Regulation of Loan Contracts) Regulations 1993

In ForceWA

Jurisdiction

Western Australia

Collection

regulation

Plain English Summary

2/10 complexity

These regulations set the "lesser rate" used under section 30(2)(b) and (c) of the Credit Act 1984 at 8% for loan contracts made after 1 February 1993 (reg. 2). That 8% figure is the fixed benchmark regulators, courts, lenders and borrowers use to assess whether a contract’s annual or acceptable rate meets the Act’s tests; lenders must compare contract rates to this comparator and disputes or compliance outcomes turn on that fixed percentage.

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Current sections

Direct links to the current provisions in Credit (Regulation of Loan Contracts) Regulations 1993.

Credit (Regulation of Loan Contracts) Regulations 1993

CrestWestern Australia

Credit Act 1984

Credit (Regulation of Loan Contracts) Regulations 1993

Western Australia

Credit (Regulation of Loan Contracts) Regulations 1993

Contents

Citation 1
Annual or acceptable rate of loan contracts 1

Notes

Compilation table 2

Western Australia

Credit Act 1984

Credit (Regulation of Loan Contracts) Regulations 1993

1. Citation

These regulations may be cited as the Credit (Regulation of Loan Contracts) Regulations 1993 1.

2. Annual or acceptable rate of loan contracts

In the case of a loan contract made after 1 February 1993, for the purposes of section 30(2)(b) and (c) of the Act the lesser rate prescribed shall be 8%.

Notes

1 This is a reprint as at 2 April 2004 of the Credit (Regulation of Loan Contracts) Regulations 1993. The following table contains information about those regulations and any reprint.

Compilation table

Citation	Gazettal	Commencement
Credit (Regulation of Loan Contracts) Regulations 1993	29 Jan 1993 p. 858	29 Jan 1993
*Reprint 1: The Credit (Regulation of Loan Contracts) Regulations 1993* as at 2 Apr 2004**

Source text

Sourced from the Western Australian Legislation website (legislation.wa.gov.au). Not the authorised version.

Western Australia

Credit Act 1984

Credit (Regulation of Loan Contracts) Regulations 1993

Western Australia

Credit (Regulation of Loan Contracts) Regulations 1993

Contents

Citation 1
Annual or acceptable rate of loan contracts 1

Notes

Compilation table 2

Western Australia

Credit Act 1984

Credit (Regulation of Loan Contracts) Regulations 1993

1. Citation

These regulations may be cited as the Credit (Regulation of Loan Contracts) Regulations 1993 1.

2. Annual or acceptable rate of loan contracts

In the case of a loan contract made after 1 February 1993, for the purposes of section 30(2)(b) and (c) of the Act the lesser rate prescribed shall be 8%.

Notes

1 This is a reprint as at 2 April 2004 of the Credit (Regulation of Loan Contracts) Regulations 1993. The following table contains information about those regulations and any reprint.

Compilation table

Citation	Gazettal	Commencement
Credit (Regulation of Loan Contracts) Regulations 1993	29 Jan 1993 p. 858	29 Jan 1993
*Reprint 1: The Credit (Regulation of Loan Contracts) Regulations 1993* as at 2 Apr 2004**