sec.555Savings provision for pre-repeal credit transactions

### sec.555 Savings provision for pre-repeal credit transactions The credit business duty provisions continue to apply for rights, privileges and liabilities that would have been acquired, accrued or incurred on or after 1 January 2006 in relation to a relevant credit amount for a pre-repeal credit transaction if the provisions had not been repealed. A credit provider may be required to lodge a return or statement, and pay credit business duty, on or after 1 January 2006 in relation to a relevant credit amount for a pre-repeal credit transaction. Subsection (1) applies subject to section 556. In this section— credit business duty provisions means— repealed chapter 6; and schedule 6, repealed definition short-term . relevant credit amount , for a pre-repeal credit transaction, means a credit amount for the transaction that exists before 1 January 2006. s 555 ins 2005 No. 60 s 16 (sec.555-ssec.1) The credit business duty provisions continue to apply for rights, privileges and liabilities that would have been acquired, accrued or incurred on or after 1 January 2006 in relation to a relevant credit amount for a pre-repeal credit transaction if the provisions had not been repealed. A credit provider may be required to lodge a return or statement, and pay credit business duty, on or after 1 January 2006 in relation to a relevant credit amount for a pre-repeal credit transaction. (sec.555-ssec.2) Subsection (1) applies subject to section 556. (sec.555-ssec.3) In this section— credit business duty provisions means— repealed chapter 6; and schedule 6, repealed definition short-term . relevant credit amount , for a pre-repeal credit transaction, means a credit amount for the transaction that exists before 1 January 2006. - (a) repealed chapter 6; and - (b) schedule 6, repealed definition short-term .