Queensland Consolidated Acts

CREDIT ACT 1987 - SECT 12

For the purposes of this Act, a reference to the annual percentage rate--

(a) in relation to a credit sale contract or a loan contract in respect of which the annual percentage rate has not been disclosed to the debtor or has been disclosed otherwise than in accordance with section 40--is a reference to the lowest percentage rate per annum that can be determined in accordance with that section in relation to the contract; and

(b) in relation to a credit sale contract or a loan contract under which the annual percentage rate has been disclosed in accordance with section 40--is a reference to the rate disclosed; and

(c) in relation to a continuing credit contract--is a reference to the annual percentage rate within the meaning of section 56.