Terms used
4 Terms used
In this Act, except in so far as the context or subject‑matter otherwise indicates or requires —
annual percentage rate has the same meaning as it has in the Credit Act 1984 or in section 25(1) of the Code, as the case may require;
ASIC means the Australian Securities and Investments Commission;
bank means —
an ADI (authorised deposit‑taking institution) as defined in section 5 of the Banking Act 1959 of the Commonwealth; or
a bank constituted by a law of a State, a Territory or the Commonwealth;
body corporate does not, except in the case of a credit provider that is a body corporate, include —
a strata company under the Strata Titles Act 1985; or
a community corporation under the Community Titles Act 2018; or
a company owning an interest in land and having a memorandum or articles of association conferring on owners of shares in the company the right to occupy certain parts of a building erected on that land,
all or the majority of which lots or parts, as the case may be, are intended to be occupied as dwellings;
Code means the Consumer Credit (Western Australia) Code as in force from time to time before the referral day;
cognate Acts means this Act, the Credit Act 1984 and the Code;
Commissioner means the person for the time being designated as the Commissioner under section 53;
contract to which this Act applies means —
a regulated contract; and
a contract that is a credit contract, or is to be regarded as a credit contract, to which the Code applies;
credit has the same meaning as it has in the Credit Act 1984 or in section 4(1) of the Code, or in both, as the case may require;
credit contract has the same meaning as it has in the Credit Act 1984;
credit provider has the same meaning as it has in the Credit Act 1984 or in the Code, as the case may require;
Department means the department of the Public Service principally assisting in the administration of this Act;
exempt credit provider means a credit provider to whom, by reason of section 7 or an order under section 45, the provisions of section 6(1) and (2) do not apply;
licence means a credit provider’s licence under this Act;
loan contract has the same meaning as it has in the Credit Act 1984;
officer, in relation to a body corporate, includes a person who is an officer of the body corporate within the meaning of the Corporations Act 2001 of the Commonwealth;
pastoral finance company means a person carrying on a business of financing pastoral pursuits or a business of stock or station agents to whom an order in force under section 11 of the Banking Act 1959 of the Commonwealth as amended and in force for the time being applies;
pending application means an application for a credit provider’s licence made under section 9 which immediately before the referral day has been neither granted under section 12(1) nor refused under section 12(2) or (4);
record includes any book, account, document, paper or other source of information compiled, recorded or stored in written form, or on microfilm, or by electronic process, or in any other manner or by any other means;
referral day means the day on which the Credit (Commonwealth Powers) Act 2010 section 4 comes into operation 2;
regulated contract has the same meaning as it has in the Credit Act 1984;
regulated mortgage has the same meaning as it has in the Credit Act 1984;
trade or tie agreement means —
a trade or tie agreement as defined in section 5(1) of the Credit Act 1984; and
a contract, arrangement or understanding of the kind described in section 117(1)(a) of the Code.
[Section 4 amended: No. 47 of 1989 s. 7; No. 30 of 1996 s. 13; No. 57 of 1997 s. 39(10); No. 26 of 1999 s. 71(2); No. 10 of 2001 s. 56; No. 43 of 2003 s. 16(2); No. 55 of 2004 s. 181; No. 28 of 2006 s. 85; No. 14 of 2010 s. 16; No. 30 of 2018 s. 127; No. 32 of 2018 s. 197.]
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