Commonwealth Numbered Regulations Commonwealth Numbered Regulations| - Registered on FRLII: | 12 March 2010 |
| - Department: | Treasury |
| - Description: | These Regulations deal with transitional matters such as the treatment of court proceedings, the application of the Credit Act and the Transitional Act to contracts made before commencement of the Credit Act (pre-commencement contracts), conditions of registration with ASIC and exemptions and infringement notices. |
TABLE OF PROVISIONS PART 1--PRELIMINARY 1. Name of Regulations 2. Commencement 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 9. Modification of the Act PART 3--REGISTRATION 10. The conditions on the registration PART 4--EXEMPTIONS 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 being registered -- providers of point of sale credit services 15. Activities exempt from being credit activities 16. Activities exempt from being registered 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