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Friday, 3 December 1976
Page: 3283

Mr Jacobi asked the Minister for Business and Consumer Affairs, upon notice:

Does the Government propose to introduce legislation to regulate wholesale financing transactions, and more particularly, to recognise agreements between dealers and finance companies.

Mr Howard -The answer to the honourable member's question is as follows:

The Government has before it recommendations of the Trade Practices Act Review Committee which relate to this matter. That Committee recommended that linked financiers be jointly liable with dealers in relation to defective products. The Molomby Committee Report on Consumer Credit also recommended similar action. Moreover, the general matter of consumer credit law is currently under examination by a Commonwealth/State Working Party on uniform credit laws.

Any action proposed by the Government will be announced when it has fully considered the questions involved.

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