Australian Capital Territory Numbered Regulations

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CREDIT REGULATIONS (AMENDMENT) (NO. 25 OF 1991) - REG 3

3. After regulation 13 of the Principal Regulations the following regulation is inserted:

Prescribed charges in relation to continuing credit contracts

“13A. (1) For the purposes of paragraphs 53 (1) (f) and 54 (1) (e) of the Act, the following charges are prescribed in relation to a continuing credit contract:

        (a)     an amount payable for registration of a mortgage relating to the contract;

        (b)     an amount payable for registration of the discharge of a mortgage in force before the relevant date;

        (c)     an amount payable to the Registrar of Titles for searching records;

        (d)     an amount payable for lodgment of a caveat under the Real Property Act 1925 , where the estate or interest referred to in the caveat relates to the contract;

        (e)     an amount payable to a duly qualified legal practitioner (not being the credit provider or an employee of the credit provider) authorised to prepare documents in relation to—

              (i)     the contract; or

              (ii)     a mortgage related to the contract which is entered into before the relevant date;

        (f)     an amount payable to a person approved under subsection 14C (2) or 14GA (2) of the Co-operative Societies Act 1939 (not being the credit provider or an employee of the credit provider) for preparation of a valuation of property the subject of a mortgage relating to the contract;

        (g)     an amount payable in connection with registration of a registrable interest in declared goods within the meaning of the Registration of Interests in Goods Act 1990 ;

        (h)     an amount payable for a certificate referred to in section 6 of the Registration of Interests in Goods Act 1990 .

“(2) In this regulation—

‘relevant date', in relation to a continuing credit contract, means the date on which the contract is entered into.”.

Insertion



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