61Firefighter’s Benefit Fund of WA Incorporated—exemption from certain provisions of Code

61 Firefighter’s Benefit Fund of WA Incorporated—exemption from certain provisions of Code

The Code, other than Division 3 of Part 2, Division 3 of Part 4 and Divisions 1 and 2 of Part 5, does not apply to a contract to the extent that the contract provides for the provision of credit to a person by the Firefighter’s Benefit Fund of WA Incorporated (the fund) in the following circumstances: (a) the person is a member of the fund; (b) the application form by which the person applies for the credit states an annual percentage rate for the credit; (c) the contract: (i) fixes, for the whole term of the contract, an annual percentage rate that is the same as the rate stated in the application form; and (ii) does not provide for varying the rate.

Note: Section 203B of the Code provides, among other things, that the regulations may exempt a contract or a class of contracts from all or specified provisions of the Code.