Act not to apply to new credit contracts
19A Act not to apply to new credit contracts
Subject to subsection (2), this Act does not apply to a credit contract made on or after the commencement of section 51 of the Consumer Credit (Victoria) Act 1995.
This Act applies to—
a credit contract, other than a continuing credit contract, and to a mortgage or guarantee relating to such a credit contract—
made on or after the commencement of section 51 of the Consumer Credit (Victoria) Act 1995 if the offer to enter into it was made before that commencement; and
to which this Act would have applied if the credit contract had been made before that commencement; and
a credit contract, other than a continuing credit contract, and to a mortgage or guarantee relating to such a credit contract made on or after that commencement but not later than one month after that commencement if—
the credit contract does not comply with the Consumer Credit (Victoria) Code; and
had the credit contract been made before that commencement, this Act would have applied to it and it would have complied with this Act.
S. 19B inserted by No. 41/1995 s. 51.
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