NATIONAL CONSUMER CREDIT PROTECTION REGULATIONS 2010 (SLI NO 44 OF 2010)

Table of Provisions

• 1 Name of Regulations  
• 2 Commencement  
• 3 Definitions  
• 4 Meaning of associate  
• 5 Prescribed orders  
• 6 Forms  
• 7 How to get an Australian credit licence -- requirements for a foreign entity to appoint local agent  
• 8 How to get an Australian credit licence -- streamlined process for particular classes of applicants  
• 9 The conditions on the licence  
• 10 Obligations of licensees -- alternative dispute resolution systems  
• 11 Obligations of licensees -- foreign entity must continue to have local agent  
• 12 Obligations of licensees -- requirements for compensation arrangements  
• 13 Obligations of licensees -- offence in relation to failure to cite licence number in documents  
• 14 Obligations of licensees -- who compliance certificate must be signed by  
• 15 When a licence can be suspended, cancelled or varied -- grounds to suspend or cancel licence  
• 16 Sub-authorisation by body corporate  
• 17 Information and matters to be contained in a trust account audit report  
• 18 Eligibility of auditors to prepare trust account audit report  
• 19 Auditors who prepare audit reports  
• 20 Persons exempt from requiring a licence -- general  
• 21 Persons exempt from requiring a licence -- debt collectors  
• 22 Persons exempt from requiring a licence -- third parties  
• 23 Persons exempt from requiring a licence -- providers of point of sale credit services  
• 24 Activities exempt from being credit activities  
• 25 Activities exempt from requiring a licence  
• 26 Obligations of credit providers before entering credit contracts or increasing credit limits  
• 27 Giving the consumer an assessment -- extended time period  
• 28 Credit guide of credit representatives -- contact details for an approved external dispute resolution scheme  
• 29 Credit registers -- licensees, credit representatives and registered persons  
• 30 Credit registers -- persons against whom banning order or disqualification order is made  
• 31 Investigations -- distribution of report  
• 32 Examination of person -- form of notice requiring assistance and appearance for examination  
• 33 Inspection of books and audit information-gathering powers -- evidence of authority  
• 34 Hearings -- form of summons to appear before ASIC  
• 35 Miscellaneous provisions -- allowances and expenses  
• 36 Where proceedings may be brought  
• 37 Purpose of Part 6-2  
• 38 Definitions for Part 6-2  
• 39 When an infringement notice can be given  
• 40 Contents of infringement notice  
• 41 Amount of penalty if infringement notice given  
• 42 Extension of time to pay penalty  
• 43 Payment of penalty by instalments  
• 44 Time for payment of penalty  
• 45 Effect of payment of penalty  
• 46 Withdrawal of infringement notice by nominated person  
• 47 Withdrawal of infringement notice by ASIC  
• 48 Notice of withdrawal of infringement notice  
• 49 Refund of penalty  
• 50 Continued application of Part 12 of the Code and interpretation provisions  
• 51 Exempt credit -- maximum account charges  
• 52 Additional exempt credit  
• 53 GIO Finance Limited's No Interest Loan Scheme -- exemption from Code  
• 54 Rental Purchase Plan -- exemption from certain provisions of Code  
• 55 Partnership loans -- exemption from certain provisions of Code  
• 56 Student loans -- exemption from certain provisions of Code  
• 57 Loans for conservation of heritage items -- exemption from Code  
• 58 ADIs -- exemption from Code  
• 59 Estate administrators -- exemption from certain provisions of Code  
• 60 Credit under Aged Care Act 1997 -- exemption from certain provisions of Code  
• 61 Firefighter's Benefit Fund of WA Incorporated -- exemption from certain provisions of Code  
• 62 Charge card contracts -- exemption of certain contracts from Code  
• 63 Credit providers providing credit to directors -- exemption from certain provisions of Code  
• 64 Mortgages -- exemptions from Code  
• 65 Guarantees -- exemption from Code  
• 66 Deemed mortgages for goods lease with option to purchase  
• 67 Prescribed person in relation to a declaration  
• 68 Declaration of purposes for which credit provided  
• 69 Direct debit default notices -- exemption for credit providers  
• 70 Statement about debtor's statutory rights and obligations  
• 71 Comparison rate  
• 72 Pre-contractual statement  
• 73 Additional disclosures about insurance financed by contract  
• 74 Additional disclosures about credit contracts to be signed by debtor  
• 75 Deduction of amount for interest charges  
• 76 Calculation of unpaid daily balances  
• 77 Early debit or payment of interest charges  
• 78 Interest charges in relation to residential investment property  
• 79 When statement of account not required  
• 80 Mortgage arising from certain home ownership schemes -- exemption from subsection 50 (1) of the Code  
• 81 Form of guarantees  
• 82 Explanation about guarantor's rights and obligations  
• 83 Information about increases in the amount of credit  
• 84 Information after surrender of goods  
• 85 Notice after direct debit default occurs  
• 86 Notice after default occurs  
• 87 Consent to enter premises  
• 88 Statement about mortgagor's rights and obligations  
• 89 Information about proceeds of sale of mortgaged goods  
• 90 Rate of interest on damages  
• 91 Informing debtor of rights  
• 92 Rebate of consideration  
• 93 Particulars of insurance entered into by credit provider  
• 94 Proportionate rebate of consumer credit insurance premium  
• 95 Notice of right to cancel mortgaged property insurance  
• 96 Proportionate rebate of premium for insurance over mortgaged property  
• 97 Relevant comparison rate where annual percentage rate stated  
• 98 Information about whether comparison rate relates to secured loan  
• 99 Warnings about comparison rate  
• 100 Calculation of comparison rates  
• 101 Matters that may be included in comparison rate schedules  
• 102 Consumer lease excluded from application of Part 11 of the Code  
• 103 Prescribed person in relation to declarations  
• 104 Declaration about purpose of lease  
• 105 Explanation about rights and obligations of consumer lessees  
• 106 Tolerances relating to disclosures  
• 107 Tolerances relating to amounts payable etc  
• 108 Additional assumptions relating to disclosures  
• 109 Contracts linked to loan account offset arrangements  
• 110 Requirements for print or type  
• 111 Notices  
• 112 References in documents to Consumer Credit Code of a State or Territory