Standard interest rates
92 Standard interest rates
The chief executive may, by publishing a notice in a newspaper circulating throughout the State, declare 1 or more standard interest rates for owner-occupied home loans made by the chief executive under this Act.
The declared rates may include—
1 or more standard fixed interest rates; and
1 or more standard variable interest rates.
A declared interest rate must be consistent with the interest rate policy prescribed under a regulation.
A declared interest rate applies to a loan if the rate is stated to apply under this Act or under an agreement between the parties to the loan.
This provision refers to the regulations (a regulation
). Made under this Act:
This Act’s bill:Explanatory memorandum
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