Formerly known as:
Credit (Home Finance Contracts)
Regulation 1984
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Credit (Home Finance Contracts) (Savings and Transitional) Regulation 1984 [1984-523]  Status Information Currency of version Provisions in force Authorisation:
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45C of the Interpretation Act 1987. Contents 1 Name of Regulation 2 Commencement 2A Application of Regulation 3 Definition 3A Contracts to which the Act applies 4 Notice by credit provider 5 Prescribed requirements for print and type in notice 6 Prescribed requirements for reproduction of print or type 7 Lay-out of notice Schedule 1 Home finance contract—notice Schedule 2 Print or type for use in notice under Credit (Home Finance Contracts) Act 1984 Historical notes
This Regulation may be cited as the Credit (Home Finance Contracts) (Savings and Transitional) Regulation 1984. This Regulation shall take effect on and from 21 December 1984. This Regulation applies only to home finance contracts and other matters to which the Act applies, as referred to in section 2A of the Act. In this Regulation, the Act means the Credit (Home Finance Contracts) Act 1984. 3A Contracts to which the Act applies For the purposes of the definition of home finance contract in section 4 of the Act, $125,000 is prescribed instead of $67,500. (1) For the purposes of section 7 of the Act, the prescribed form of notice is set out in Schedule 1.(2) Where the notice prescribed by subclause (1) suggests or requires the insertion of information in a blank space, the notice shall be in a form in compliance with this Regulation only when each item of information is inserted as suggested or required. 5 Prescribed requirements for print and type in notice (1) For the purposes of section 18 (2) (b) of the Act:(a) subject to paragraph (c), where any print or type that is produced directly or indirectly by a method or process under which each character occupies a space of the same width, that print or type shall be not smaller than 12-pitch,(b) subject to paragraph (c), print or type produced by a method or process other than that referred to in paragraph (a) shall be in one of the type faces specified in Schedule 2 and of or larger than the size of 10 point, and(c) where, in a notice prescribed by clause 4, there is a blank space in which further print or type is subsequently inserted by a method or process by which each character occupies a space of the same width, that latter print or type shall, when inserted, be not smaller than 13-pitch(2) In subclause (1): 6 Prescribed requirements for reproduction of print or type Where the dimensions of the face measurement of print or type in a notice prescribed by clause 4 comply with clause 5 and that notice is photographed, reproduced or copied, the face measurement of the print or type in the notice produced by that photograph, reproduction or copy shall, for the purposes of section 18 (2) (b) of the Act, be not less than 95 per cent of the face measurement of the print or type in the original notice. (1) Subject to sections 19 and 20 of the Act, the notice prescribed by clause 4 (and any part thereof) shall be:(a) paragraphed and indented, and(b) set out in the contrasting print or type of upper and lower case,as appears in Schedule 1.(2) A credit provider who serves, or who causes to be served, a notice prescribed by clause 4 that does not comply with subclause (1) is guilty of an offence and liable to a penalty not exceeding 5 penalty units. Schedule 1 Home finance contract—notice (Clause 4) Credit (Home
Finance Contracts) Act 1984 Section 7
To: ............................................................ (name of debtor or guarantor) ............................................................ (address) From: ............................................................ (name of credit provider) ............................................................ (address) After one month from the time this Notice is received ............................................................ (name of credit provider) intends to take legal action or exercise a right under a home finance contract against ............................................................ (name of debtor) The credit provider’s reasons are given at the end of this Notice, together with: * the amount the credit provider claims to be owed under the contract; and * details of the contract. This Notice is given to the debtor under a home finance contract and any guarantor of that contract. You should discuss this matter with the credit provider as soon as possible. The person to contact is ............................................................ (name or title of officer or agent) of ............................................................ (name of credit provider or agent) Telephone No: ............................................................ If this Notice is given to you because you have guaranteed repayment of the debtor’s home finance contract, you should also discuss this matter with the debtor immediately. If you are the debtor under the home finance contract and you cannot come to a suitable arrangement with the credit provider, contact Consumer Affairs immediately. If you have been unemployed, sick or there is another good reason why you cannot meet your commitments, then the contract may be able to be varied under the law to meet your situation. If you have guaranteed repayment of the debtor’s home finance contract and the credit provider looks to you to pay out the contract, you have a right, similar to that of the debtor, to seek a variation of your commitments in circumstances of hardship. If you disagree with anything in the Notice, including what it says is owed, contact Consumer Affairs or seek legal advice immediately. There are other people, such as financial counsellors, who may be able to help. REASONS FOR, AND NATURE OF, INTENDED LEGAL ACTION OR EXERCISE OF RIGHT
DETAILS OF HOME FINANCE CONTRACT
Registered Mortgage No (if any): ............................................................ Address of any mortgaged property: ............................................................
IF YOU HAVE ANY DOUBTS OR YOU WANT MORE INFORMATION ABOUT WHAT TO DO NEXT, SEEK LEGAL ADVICE OR CONTACT YOUR NEAREST OFFICE OF THE DEPARTMENT OF CONSUMER AFFAIRS. ................................... Schedule 2 Print or type for use in notice under Credit (Home Finance Contracts) Act 1984 (Clause 5 (1) (b)) Avante GardeAvante Garde Book Avante Garde Medium Bold American Typewriter American Typewriter Medium American Typewriter Bold Baskerville Baskerville Roman Baskerville Roman Italic Baskerville Roman Bold Bembo Bembo Roman Bembo Roman Italic Bembo Bold Bodoni Bodoni Roman Bodoni Roman Italic Bodoni Bold Century Old Style Century Old Style Roman Century Old Style Roman Italic Century Old Style Bold Century School Book Century School Book Roman Century School Book Roman Italic Century School Book Bold Clarendon Clarendon Roman Clarendon Roman Italic Clarendon Bold Claro Claro Light Claro Medium Claro Medium Italic Claro Demi-Bold De Vinne De Vinne Roman De Vinne Roman Italic De Vinne Bold Gill Sans Gill Sans Medium Gill Sans Medium Italic Gill Sans Bold Gloucester Old Style Gloucester Old Style Roman Gloucester Old Style Roman Italic Gloucester Old Style Bold Helvetica Helvetica Light Helvetica Medium Helvetica Medium Italic Helvetica Bold Karnak Intermediate Karnak Intermediate Roman Karnak Intermediate Roman Italic Karnak Intermediate Bold Megaron Megaron Light Megaron Medium Megaron Medium Italic Megaron Bold Metro Metro Italic Metro Bold Musica Musica Roman Musica Roman Italic Musica Bold Old Style Old Style Roman Old Style Roman Italic Old Style Bold Optima Optima Roman Optima Roman Italic Optima Bold Plantin Plantin Roman Plantin Roman Italic Plantin Bold Press Roman Bold Press Roman Medium Record Gothic Rockwell Light Rockwell Medium Rockwell Bold Rockwell Italic Souvenir Souvenir Light Souvenir Light Italic Souvenir Bold Souvenir Medium Times (or English) Times (or English) Roman Times (or English) Roman Italic Times (or English) Bold Univers Univers Light Univers Medium Univers Medium Italic Univers Bold Zapf Zapf Medium
The following abbreviations are used in the Historical notes:
Table of amending instruments Credit (Home Finance Contracts) (Savings and Transitional) Regulation 1984 (formerly Credit (Home Finance Contracts) Regulation 1984) published in Gazette No 178 of 21.12.1984, p 6341 (see also GG of 11.1.1985) and amended in Gazettes of 25.8.1989, 31.7.1992, 6.5.1994 and No 83 of 25.7.1997, p 5686. Table of amendments
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