Western Australian Consolidated Regulations

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CREDIT REGULATIONS 1985 - REG 19

19 .         Descriptive terms to be used in certain documents

        (1)         In a regulated credit sale contract a matter specified in Column 1 of Schedule 3 shall be described or referred to by the term specified opposite that matter in Column 2 of Schedule 3.

        (2)         In a regulated loan contract a matter specified in Column 1 of Schedule 4 shall be described or referred to by the terms specified opposite that matter in Column 2 of Schedule 4.

        (3)         In a notice under section 59 of the Act a matter specified in Column 1 of Schedule 5 shall be described or referred to by the term specified opposite that matter in Column 2 of Schedule 5.

        (4)         In a statement of account referred to in section 61 of the Act a matter specified in Column 1 of Schedule 6 shall be described or referred to by the term specified opposite that matter in Column 2 of Schedule 6.

        (5)         A credit provider who — 

            (a)         enters into a regulated credit sale contract;

            (b)         enters into a regulated loan contract;

            (c)         gives a notice under section 59 of the Act to a debtor; or

            (d)         gives a statement of account referred to in section 61 of the Act to a debtor,

                that does not comply with the requirements of — 

            (e)         in the case of a regulated credit sale contract, subregulation (1);

            (f)         in the case of a regulated loan contract, subregulation (2);

            (g)         in the case of a notice under section 59 of the Act, subregulation (3); or

            (h)         in the case of a statement of account referred to in section 61 of the Act, subregulation (4),

                is guilty of an offence.

        Penalty: $500.

        [Regulation 19, formerly regulation 20, renumbered as regulation 19 in Gazette 10 Jan 1986 p. 138.]



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