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The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
As passed by both Houses
Consumer Credit Legislation Amendment (Enhancements) Bill 2012
No. , 2012
A Bill for an Act to amend the law relating to consumer credit and consumer protection, and for related purposes
Contents
1............ Short title............................................................................................. 1
2............ Commencement................................................................................... 1
3............ Schedule(s)......................................................................................... 3
Schedule 1—Enhancements 4
Part 1—Protection of debtor in cases of hardship 4
National Consumer Credit Protection Act 2009 4
Part 2—Remedies for unfair or dishonest conduct by credit service providers 9
National Consumer Credit Protection Act 2009 9
Part 3—Representations about eligibility to enter credit contracts, consumer leases etc. without assessing unsuitability 13
National Consumer Credit Protection Act 2009 13
Part 4—Prohibition on certain representations and other matters 15
National Consumer Credit Protection Act 2009 15
Part 5—Civil remedies for contravention of the National Credit Code 21
National Consumer Credit Protection Act 2009 21
Part 6—Miscellaneous amendments 22
National Consumer Credit Protection Act 2009 22
Part 7—Technical corrections 26
National Consumer Credit Protection Act 2009 26
Schedule 2—Reverse mortgages 28
Part 1—Definitions 28
Division 1—Definition of reverse mortgage 28
National Consumer Credit Protection Act 2009 28
Division 2—Other definitions 29
National Consumer Credit Protection Act 2009 29
Part 2—Provisions applying to licensees 31
National Consumer Credit Protection Act 2009 31
Part 3—Provisions applying to credit providers generally 38
National Consumer Credit Protection Act 2009 38
Schedule 3—Short-term and small amount credit contracts 48
National Consumer Credit Protection Act 2009 48
Schedule 4—Caps on costs etc. for credit contracts 57
National Consumer Credit Protection Act 2009 57
Schedule 5—Consumer leases 71
National Consumer Credit Protection Act 2009 71
Schedule 6—Application provisions 105
National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 105
Schedule 7—Lay-by agreements etc. 110
Competition and Consumer Act 2010 110
A Bill for an Act to amend the law relating to consumer credit and consumer protection, and for related purposes
The Parliament of Australia enacts:
This Act may be cited as the Consumer Credit Legislation Amendment (Enhancements) Act 2012 .
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
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Commencement information |
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Column 1 |
Column 2 |
Column 3 |
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Provision(s) |
Commencement |
Date/Details |
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1. Sections 1 to 3 and anything in this Act not elsewhere covered by this table |
The day this Act receives the Royal Assent. |
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2. Schedule 1 |
1 March 2013. |
1 March 2013 |
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2A. Schedule 2, Part 1 |
The day after this Act receives the Royal Assent. |
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2B. Schedule 2, Part 2 |
1 March 2013. |
1 March 2013 |
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2C. Schedule 2, items 12 to 14 |
1 March 2013. |
1 March 2013 |
|
2D. Schedule 2, item 15 |
The day after this Act receives the Royal Assent. |
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2E. Schedule 2, items 16 to 18 |
1 March 2013. |
1 March 2013 |
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2F. Schedule 2, items 19 and 20 |
The day after this Act receives the Royal Assent. |
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2G. Schedule 2, items 21 and 22 |
1 March 2013. |
1 March 2013 |
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2H. Schedule 2, item 23 |
The day after this Act receives the Royal Assent. |
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2J. Schedule 2, items 24 to 26 |
1 March 2013. |
1 March 2013 |
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2K. Schedule 3 |
1 March 2013. |
1 March 2013 |
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3. Schedule 4 |
1 July 2013. |
1 July 2013 |
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4. Schedule 5 |
1 March 2013. |
1 March 2013 |
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4A. Schedule 6 |
The day after this Act receives the Royal Assent. |
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5. Schedule 7 |
A single day to be fixed by Proclamation. However, if the provision(s) do not commence within the period of 12 months beginning on the day this Act receives the Royal Assent, they commence on the day after the end of that period. |
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Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.
(2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.
Each Act that is specified in a Schedule to this Act is amended or
repealed as set out in the applicable items in the Schedule
concerned, and any other item in a Schedule to this Act has effect
according to its terms.