TAILIEUCHUNG - CONSUMER CREDIT (SOUTH AUSTRALIA) ACT 1995

Kfir Eliaz and Ran Spiegler 2006) does not investigate credit contracts and especially welfare and possible welfare-improving interventions in credit markets in detail. Furthermore, because borrowing on a mortgage or to purchase a durable good typically involves up-front effort costs with mostly delayed benefits, models of a taste for immediate gratification do not seem to predict much of the overextension that has worried researchers and policymakers. In this paper, we provide a formal economic analysis of the features and welfare effects of credit contracts when some consumers have a time-inconsistent taste for immediate gratification that they may only partially understand | South Australia -4 Ox Ml CONSUMER CREDIT SOUTH AUSTRALIA ACT 1995 No. 34 of 1995 SUMMARY OF PROVISIONS PART 1 PRELIMINARY 1. Short title 2. Commencement 3. Definitions 4. References to Queensland Acts PART 2 CONSUMER CREDIT SOUTH AUSTRALIA CODE AND CONSUMER CREDIT SOUTH AUSTRALIA REGULATIONS Application in South Australia of the Consumer Credit Code Application of regulations Interpretation of some expressions in the Code and Regulations PARTS CONFERRAL OF JUDICIAL AND ADMINISTRATIVE FUNCTIONS 8. Conferral of judicial functions on District Court 9. Conferral of administrative functions PART 4 GENERAL 10. Special savings and transitional regulations for South Australia ỈỈ. Crown is bound 12. Maximum annual percentage rate SCHEDULE Repeal and transitional 449 ANNO QUADRAGESIMO QUARTO ELIZABETHAE n REGINAE . 1995 No. 34 of 1995 An Act to make provision for a uniform legislative scheme to regulate the provision of consumer credit and for other purposes. Assented to 27 April 1995 The Parliament of South Australia enacts as follows PART 1 PRELIMINARY Short title 1. This Act may be cited as the Consumer Credit South Australia Act 1995. Commencement 2. This Act will come into operation on a day to be fixed by proclamation. Definitions 3. In this Act Consumer Credit Act means the Consumer Credit Queensland Act 1994 of Queensland Consumer Credit South Australia Code means the provisions applying because of section 5 Consumer Credit South Australia Regulations means the provisions applying because of section 6 Ministerial Council means the Ministerial Council established under the Uniform Consumer Credit Laws Agreement 1993. 450 No. 34 of 1995 Consumer Credit South Australia Act 1995 Part 1 References to Queensland Ads 4. In this Act a reference to a Queensland Act includes a reference to that Queensland Act as amended and in force for the thne being and ft an Act passed in substitution for that Act . .

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