CONSUMER CREDIT LEGISLATION AMENDMENT (ENHANCEMENTS) ACT 2012 (NO. 130, 2012) - SCHEDULE 6 Application provisions

CONSUMER CREDIT LEGISLATION AMENDMENT (ENHANCEMENTS) ACT 2012 (NO. 130, 2012) - SCHEDULE 6

National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009

1  Schedule 4 (heading)

Repeal the heading, substitute:

Schedule 4--Application and transitional provisions for the National Consumer Credit Protection Amendment (Home Loans and Credit Cards) Act 2011

2  Part 1 of Schedule 4 (heading)

Repeal the heading.

3  Item 1 of Schedule 4

Omit "In this Part", substitute "In this Schedule".

4  At the end of the Act

Add:

Schedule 5--Application provisions for the Consumer Credit Legislation Amendment (Enhancements) Act 2012

Part 1--Definition

1  Definition

In this Schedule:

amending Act means the Consumer Credit Legislation Amendment (Enhancements) Act 2012 .

Part 2--Schedule 1 (enhancements) to the amending Act

2  Section 128 of the National Credit Act

The amendments of section 128 of the National Credit Act made by Schedule 1 to the amending Act apply in relation to representations made on or after the commencement of that Schedule.

3  Section 180A of the National Credit Act

Section 180A of the National Credit Act, as inserted by Schedule 1 to the amending Act, applies in relation to credit services provided on or after the commencement of that Schedule.

4  Sections 32 and 40 of the new Credit Code

The amendments of sections 32 and 40 of the new Credit Code made by Schedule 1 to the amending Act apply in relation to credit contracts entered into on or after the commencement of that Schedule.

5  Sections 72, 73, 74 and 88 of the new Credit Code

The amendments of sections 72, 73, 74 and 88 of the new Credit Code made by Schedule 1 to the amending Act apply in relation to credit contracts made on or after the commencement of that Schedule.

6  Section 89A of the new Credit Code

Section 89A of the new Credit Code, as inserted by Schedule 1 to the amending Act, applies in relation to credit contracts, mortgages and guarantees entered into on or after the commencement of that Schedule.

7  Section 94 of the new Credit Code

The amendments of section 94 of the new Credit Code made by Schedule 1 to the amending Act apply in relation to credit contracts, mortgages and guarantees entered into on or after the commencement of that Schedule.

8  Section 124 of the new Credit Code

The amendments of section 124 of the new Credit Code made by Schedule 1 to the amending Act apply in relation to applications made on or after the commencement of that Schedule, whether the contraventions occurred before, on or after that commencement.

Part 3--Schedule 2 (reverse mortgages) to the amending Act

9  Subsections 179(6) and (7) of the National Credit Act

Subsections 179(6) and (7) of the National Credit Act, as added by item 11 of Schedule 2 to the amending Act, apply in relation to credit contracts entered into on or after the commencement of that item .

10  Subsection 17(15A) of the new Credit Code

Subsection 17(15A) of the new Credit Code, as inserted by item 12 of Schedule 2 to the amending Act, applies in relation to credit contracts entered into on or after the commencement of that item .

11  Section 18A of the new Credit Code

Section 18A of the new Credit Code, as inserted by item 13 of Schedule 2 to the amending Act, applies to entry into, and changes to, credit contracts on or after the commencement of that item .

12  Subsection 26(6) of the new Credit Code

Subsection 26(6) of the new Credit Code, as added by item 15 of Schedule 2 to the amending Act, applies in relation to credit contracts entered into on or after the commencement of that item .

13  Section 33 of the new Credit Code

The amendments of section 33 of the new Credit Code made by items 16 and 17 of Schedule 2 to the amending Act apply to credit contracts entered into before, on or after the commencement of those items .

14  Section 67A of the new Credit Code

Section 67A of the new Credit Code, as inserted by item 18 of Schedule 2 to the amending Act, applies in relation to credit contracts entered into on or after the commencement of that item .

15  Subdivision B of Division 1 of Part 5 of the new Credit Code

Subdivision B of Division 1 of Part 5 of the new Credit Code, as inserted by item 20 of Schedule 2 to the amending Act, applies in relation to credit contracts and mortgages entered into on or after the commencement of that item .

16  Subsections 88(1) and (2) of the new Credit Code

The amendment of subsections 88(1) and (2) of the new Credit Code made by item 21 of Schedule 2 to the amending Act applies to credit contracts and mortgages entered into before, on or after the commencement of that item .

17  Subsections 88(7A) and (7B) of the new Credit Code

Subsections 88(7A) and (7B) of the new Credit Code, as inserted by item 22 of Schedule 2 to the amending Act, apply in relation to credit contracts and mortgages entered into on or after the commencement of that item .

18  Section 93A of the new Credit Code

Section 93A of the new Credit Code, as added by item 23 of Schedule 2 to the amending Act, applies in relation to credit contracts and mortgages entered into on or after the commencement of that item .

19  Section 185A of the new Credit Code

Section 185A of the new Credit Code, as inserted by item 26 of Schedule 2 to the amending Act, applies in relation to credit contracts entered into on or after the commencement of that item .

Part 4--Schedule 3 (short-term and small amount credit contracts) to the amending Act

20  Paragraphs 124A(1)(b) and 133CA(1)(b) of the National Credit Act

Paragraphs 124A(1)(b) and 133CA(1)(b) of the National Credit Act, as inserted by Schedule 3 to the amending Act, apply in relation to short-term credit contracts entered into before, on or after the commencement of that Schedule.

Part 5--Schedule 4 (caps on costs etc. for credit contracts) to the amending Act

21  Sections 23A, 31A, 31B, 39A, 39B and 39C and subsection 114(1A) of the new Credit Code

Sections 23A, 31A, 31B, 39A, 39B and 39C and subsection 114(1A) of the new Credit Code, as inserted by Schedule 4 to the amending Act, apply in relation to small amount credit contracts entered into on or after the commencement of that Schedule.

21A  Section 32AA and paragraphs 111(1)(k) and (2)(fb) of the new Credit Code

Section 32AA and paragraphs 111(1)(k) and (2)(fb) of the new Credit Code, as inserted by Schedule 4 to the amending Act, apply in relation to credit contracts entered into on or after the commencement of that Schedule.

Part 6--Schedule 5 (consumer leases) to the amending Act

22  Subsection 199(2) of the National Credit Act

The amendments of subsection 199(2) of the National Credit Act made by Schedule 5 to the amending Act apply in relation to consumer leases entered into on or after the commencement of that Schedule.

23  Part 11 of the new Credit Code

The amendments in relation to Part 11 of the new Credit Code made by Schedule 5 to the amending Act apply in relation to consumer leases entered into on or after the commencement of that Schedule.