Coverage of other legislation

Contributed by Ian Macdonald and current to 1 September 2005

THE CREDIT ACT 1984 (WA)

The Credit Act applied to some credit contracts entered between 31 March 1984 and 1 November 1996. Regulated credit was divided by the Credit Act into three different categories:

• credit sale contracts;
• loan contracts; and
• continuing credit contracts.

Continuing credit contracts which were regulated by the Credit Act are now regulated by the Code. The Credit Act was a complicated Act, with many special provisions which credit providers had to comply with. There are now very few Credit Act regulated contracts still operating. A person with a credit contract entered into before 1 November 1996 should seek specialised assistance – see the Contact Points at the end of this chapter.

THE HIRE-PURCHASE ACT 1959 (WA)

The Hire-Purchase Act applied to any contract structured as a hire purchase contract entered into after 1959 which was not regulated by the Code or the Credit Act.

The Hire-Purchase Act applied to hire purchase contracts entered between 31 March 1984 and 1 November 1996 where the Credit Act did not apply. The Hire-Purchase Act applied to hire purchase contracts where the cash price of the goods was greater than $20,000.00 and the goods were not commercial vehicles or farm machinery.

The application of the Hire-Purchase Act to hire purchase contracts entered into after 1 November 1996 is determined by the Code. In effect, the Hire-Purchase Act does not apply to any hire purchase contract made to individuals for predominantly personal, household or domestic purposes.

With effect from 1 May 2004 the Hire-Purchase Act was heavily amended, and now provides a limited regulation of some business or investment contracts of a hire-purchase nature. There is some useful protection for farmers. A person with a hire-purchase contract should seek specialist assistance: see the Contact Points at the end of this chapter.