Commonwealth Consolidated Regulations

NATIONAL CONSUMER CREDIT PROTECTION (TRANSITIONAL AND CONSEQUENTIAL PROVISIONS) REGULATIONS 2010

- made under the National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009

TABLE OF PROVISIONS

   PART 1--PRELIMINARY

   1.      Name of Regulations [see Note 1]  
   2.      Commencement [see Note 1]  
   3.      Definitions  
   4.      Meaning of associate  

   PART 2--TRANSITIONAL PROVISIONS

   5.      Transfer of assets or liabilities to ASIC  
   6.      Application of new Credit Code to particular sale contracts  
   7.      Treatment of proceedings brought under old Credit Code before commencement  
   8.      References to the National Consumer Credit Protection Regulations 2010  
   8C.     Modification of item 18 of Schedule 1 to the Act (Treatment of contracts or other instruments made before commencement)  
   8D.     Modification of item 20 of Schedule 1 to the Act (Application of Schedule 2 to this Act in relation to contracts or other instruments)  

   PART 3--REGISTRATION

   10.     The conditions on the registration  
   10A.    The conditions on the registration -- special purpose funding entity  
   10B.    The conditions on the registration -- referrals  

   PART 4--EXEMPTIONS AND MODIFICATIONS

           Division 1--Exemptions

              Subdivision 1.1--Persons exempt from being registered

   11.     Persons exempt from being registered -- general  
   12.     Persons exempt from being registered -- debt collectors  
   13.     Persons exempt from being registered -- third parties  
   14.     Persons exempt from requiring registration -- suppliers of goods or services  
   14A.    Persons exempt from requiring registration -- suppliers of goods or services with branded or co-branded credit card  
   14B.    Persons exempt from requiring registration -- fund raising special purpose entity  
   14C.    Persons exempt from requiring registration -- securitisation entity  
   14D.    Persons exempt from requiring registration -- employment agencies  

              Subdivision 1.2--Exempt credit activities

   15.     Activities exempt from being credit activities [see Note 2]  
   16.     Activities exempt from being registered  

           Division 2--Modifications

   16A.    Purpose of Division  

              Subdivision 2.1--Modifications -- registered person party to servicing agreement with special purpose funding entity

   16B.    Application of Subdivision  
   16BA.   Modification of item 4 of Schedule 2 to the Act  
   16BB.   Modification of item 6 of Schedule 2 to the Act  
   16C.    Modification of paragraph 14 (1) (a) of Schedule 2 to Act  

              Subdivision 2.2--Modifications -- locums and temporary staff

   16D.    Application of Subdivision  
   16E.    References to employee  

   PART 5--INFRINGEMENT NOTICES

   17.     Purpose of Part 5  
   18.     Definitions for Part 5  
   19.     When an infringement notice can be given  
   20.     Contents of infringement notice  
   21.     Amount of penalty if infringement notice given  
   22.     Extension of time to pay penalty  
   23.     Payment of penalty by instalments  
   24.     Time for payment of penalty  
   25.     Effect of payment of penalty  
   26.     Withdrawal of infringement notice by nominated person  
   27.     Withdrawal of infringement notice by ASIC  
   28.     Notice of withdrawal of infringement notices  
   29.     Refund of penalty  

   PART 6--CARRIED OVER INSTRUMENTS

   30.     Purpose of Part  
   31.     Application of Part  
   32.     Application of Chapter 2 of National Credit Act to credit provider or lessor for carried over instrument before 1 July 2010  
   33.     Application of Chapter 2 of National Credit Act if not credit provider or lessor for carried over instrument before 1 July 2010  
   34.     Application of Schedule 2 to the Act if credit provider or lessor for carried over instrument before 1 July 2010  
   35.     Application of Schedule 2 to the Act if not credit provider or lessor for carried over instrument before 1 July 2010  
   36.     Application of section 213 and Chapter 2 of National Credit Act  
   37.     Application of Chapter 3 of National Credit Act -- licensee or registered person in relation to carried over instrument  
   38.     Application of Parts 3-2 and 3-7 of the National Credit Act -- unlicensed carried over instrument lender