6Application of new Credit Code to particular sale contracts

6 Application of new Credit Code to particular sale contracts

(1) This regulation applies if:

(a) a provision of credit was made before 29 May 2009; and

(b) the provision of credit was for a sale of land or goods by instalments under a contract; and

(c) immediately before commencement of the new Credit Code, an old Credit Code applies to the provision of credit.

(2) For subsection 6 (2) of the Act, sections 10, 11 and 12 of the new Credit Code do not apply to the provision of credit.

Note Subsection 6 (2) of the Act provides that the regulations may prescribe matters of a transitional nature (including matters of an application or saving nature):

Note: (a) arising out of the enactment of the National Credit Act; or

Note: (b) relating to the transition from the application of provisions of the old Credit Codes, or related laws, of the referring States and the Territories to the application of provisions of the National Credit Act.