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Bills of previous Parliaments

Although every effort is made to ensure the accuracy of bills homepages, the authoritative sources for verifying the progress of bills are the House of Representatives Votes and Proceedings and the Journals of the Senate.

Credit Repayment (Protecting Vulnerable Borrowers) Bill 2015


Type
Private
Originating house
House of Representatives
Status
Not Proceeding
Sponsor
KATTER, Bob, Jnr, MP

Summary

Provides that financial institutions with credit agreements to which a security over Australian land applies: must provide to defaulting borrowers notification of their claim of default and register the notification with an authorised government instrumentality; are prohibited from enforcing a right to re-possess or sell the land for a period of two years after default; are prohibited from imposing additional charges on the borrower that were not in place before the default arose; and require the borrower to continue to make interest payments on the credit amount. Also prevents confidentiality clauses in settlement agreements.

Progress of bill

For committee reference information, please see the Notes section at the end of this page.

House of Representatives
Introduced and read a first time 23/11/15  
Second reading moved 23/11/15  
Lapsed at prorogation 15/04/16  
     

Text of bill

  • First reading

MS-Word PDF HTML

Explanatory memoranda

  • Explanatory memorandum

MS-Word PDF HTML

Second reading speeches


Proposed amendments

No proposed amendments have been circulated.

Schedules of amendments

Bills Digest



Notes