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National Consumer Credit Protection Regulations 2010
61Firefighter’s Benefit Fund of WA Incorporated—exemption from certain provisions of Code
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#### 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.