sec.144Standard variable interest rate—the repealed Act, s 32AA

### sec.144 Standard variable interest rate—the repealed Act, s 32AA This section applies if, immediately before the commencement day, an interest rate applying to a loan agreement, contract of sale or other agreement was— the standard variable interest rate declared under the repealed Act, section 32AA (the standard variable rate ) at a particular time; or a rate calculated by reference to the standard variable rate at a particular time. So far as the agreement provides for the application of the standard variable rate in force at a time on or after the commencement day, the standard variable rate is— for a time before a standard variable interest rate is declared under section 92—the standard variable rate in force immediately before the commencement day; or for a time after a standard variable interest rate is declared under section 92—the standard variable interest rate in force under that section. This section does not prevent the parties to the agreement agreeing to a different interest rate. In this section, a reference to the application of the standard variable rate includes the application of another rate calculated by reference to the standard variable rate. (sec.144-ssec.1) This section applies if, immediately before the commencement day, an interest rate applying to a loan agreement, contract of sale or other agreement was— the standard variable interest rate declared under the repealed Act, section 32AA (the standard variable rate ) at a particular time; or a rate calculated by reference to the standard variable rate at a particular time. (sec.144-ssec.2) So far as the agreement provides for the application of the standard variable rate in force at a time on or after the commencement day, the standard variable rate is— for a time before a standard variable interest rate is declared under section 92—the standard variable rate in force immediately before the commencement day; or for a time after a standard variable interest rate is declared under section 92—the standard variable interest rate in force under that section. (sec.144-ssec.3) This section does not prevent the parties to the agreement agreeing to a different interest rate. (sec.144-ssec.4) In this section, a reference to the application of the standard variable rate includes the application of another rate calculated by reference to the standard variable rate. - (a) the standard variable interest rate declared under the repealed Act, section 32AA (the standard variable rate ) at a particular time; or - (b) a rate calculated by reference to the standard variable rate at a particular time. - (a) for a time before a standard variable interest rate is declared under section 92—the standard variable rate in force immediately before the commencement day; or - (b) for a time after a standard variable interest rate is declared under section 92—the standard variable interest rate in force under that section.