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Business Practices Committee Report 78

Interest Recalculators

1. Press Release during December 1996 by the Registrar: Usury Act



The Registrar: Usury Act issued the following press release during December 1996:


"It has come to the attention of the Department of Trade and Industry that certain interest recalculation organisations are alleging that the Department of Trade and Industry has employed them to do investigations and recalculations regarding overcharging of interest. The Department expressly states that it has not employed any agents to conduct investigations or recalculations on its behalf. Any person who is approached by such an organisation should immediately report to the Department".