27A

Saving of repealed pt 6 for existing credit contracts

In force

(1)

Repealed part 6 continues to apply in relation to an existing credit contract and the maximum annual percentage rate for the contract as if the Liquor and Gaming (Red Tape Reduction) and Other Legislation Act 2013, part 5 had not commenced.

(2)

In this section—

existing credit contract means a credit contract entered into on or after 31 July 2008 to which repealed part 6 applied immediately before the commencement of this section.

repealed part 6 means part 6 as in force immediately before the commencement of this section.

This Act’s bill:Explanatory memorandum Second reading speech

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