sec.5Application of Act

sec.5 Application of Act

This Act applies to all persons including the State and, so far as the legislative power of the State permits, the Commonwealth and the other States. However, this Act applies in relation to a mortgage only if the mortgagor (or, if there is more than 1, each mortgagor) is an individual. Also— part 2 does not apply in relation to a mortgage to which the National Credit Code applies; and this Act does not apply in relation to a mortgage to which the the repealed Credit Act 1987 as continued applies. The provisions of the Credit Act 1987 are continued by the Credit (Commonwealth Powers) Act 2010 , section 15 . s 5 amd 2010 No. 16 s 35 sch (sec.5-ssec.1) This Act applies to all persons including the State and, so far as the legislative power of the State permits, the Commonwealth and the other States. (sec.5-ssec.2) However, this Act applies in relation to a mortgage only if the mortgagor (or, if there is more than 1, each mortgagor) is an individual. (sec.5-ssec.3) Also— part 2 does not apply in relation to a mortgage to which the National Credit Code applies; and this Act does not apply in relation to a mortgage to which the the repealed Credit Act 1987 as continued applies. The provisions of the Credit Act 1987 are continued by the Credit (Commonwealth Powers) Act 2010 , section 15 .

• (a) part 2 does not apply in relation to a mortgage to which the National Credit Code applies; and
• (b) this Act does not apply in relation to a mortgage to which the the repealed Credit Act 1987 as continued applies. Note— The provisions of the Credit Act 1987 are continued by the Credit (Commonwealth Powers) Act 2010 , section 15 .