Victorian Consolidated Legislation

CONSUMER CREDIT (VICTORIA) ACT 1995

No. 41 of 1995
Version incorporating amendments as at 19 March 2008

TABLE OF PROVISIONS

           Section Page

   PART 1-PRELIMINARY

   1.      Purpose
   2.      Commencement
   3.      Definitions
   4.      Crown to be bound

   PART 2-CONSUMER CREDIT (VICTORIA) CODE AND CONSUMER CREDIT (VICTORIA) REGULATIONS

   5.      Application in Victoria of the Consumer Credit Code
   6.      Application of uniform regulations under the Consumer
           Credit Code
   7.      Interpretation of expressions in the Consumer Credit
           (Victoria) Code and the Consumer Credit (Victoria)
           Regulations

   PART 3-CONFERRAL OF JUDICIAL AND ADMINISTRATIVE FUNCTIONS

   8.      Conferral of judicial functions
   9.      Conferral of administrative functions

   PART 4-REGISTRATION

   10.     Exemption from this Part 11. Certain persons not to carry on business as credit provider
   12.     Section 11 not to apply in certain cases
   13.     Application for registration
   14.     False or misleading statements
   15.     Registration
   16.     Operation of registration
   17.     Credit provider may carry on business under additional
           names
   18.     Credit provider not to carry on business with unregistered
           partner
   19.     Register to be kept
   20.     Inspection of register
   21.     Credit provider to give notice of certain changes
   22.     Period of registration
   23.     Annual fee
   24.     Annual statement
   25.     Enquiries about credit providers
   26.     Undertakings by credit provider
   27.     Cancellation of registration on request
   28.     Application for inquiry
   29.     Repealed
   30.     Inquiry by Tribunal
   31.     Effect of suspension of registration
   31A.    Return of certificate of registration
   32.     Powers of credit provider whose registration is suspended or cancelled
   33.     New registration of credit provider prohibited without consent
   34.     Repealed
   35.     Legal personal representatives
   36.     Penalty for using name other than registered name
   37.     Assignment of rights by credit provider

   PART 4A-FINANCE BROKING

           Division 1-Preliminary

   37A.    Definitions
   37B.    Exemption from this Part

           Division 2-Offences

   37C.    Certain persons prohibited from engaging in finance
           broking
   37D.    Certain persons not to be directors of or to manage or
           control corporations that engage in finance broking
   37E.    Who or what is a disqualified person?

           Division 3-Permission to engage in finance broking

   37F.    Applications for permission to engage or be involved in
           finance broking
   37G.    Permission from the Authority
   37H.    Authority may impose conditions
   37I.    Application for review

           Division 4-Permissible fees

   37J.    Requirements before finance brokers may demand or accept
           fees
   37K.    Fee representing reasonable costs and expenses payable in
           certain circumstances
   37L.    Finance brokers not to demand receive accept or charge fee to which they are not entitled
   37M.    Valuation and credit application fees

           Division 5-Jurisdiction of courts and the Tribunal under Part 4A.

   37N.    Right to recover fees if there is non-compliance with this Part 37O. Jurisdiction of the Tribunal to order repayment of fees
   37P.    Court power to order repayment where there is a contravention
           of section 37L.

           Division 6-Miscellaneous and transitional provisions

   37Q.    Documents of appointment must be held for 7 years
   37R.    Misrepresentation
   37S.    Register of finance brokers and agents
   37T.    Finance broker licences and agents licences
   37U.    Director to exercise and perform certain powers and duties of Registrar

   PART 5-MISCELLANEOUS

   38.     Civil penalties to be paid to Consumer Credit Fund
   39.     Contract unenforceable if rate exceeds 48 per cent
   40.     Mortgage void if rate under credit contract exceeds 30 per cent
   40A.    Incorporation of provisions of Fair Trading Act 1999.
   41.     Regulations

   PART 6-TRANSITIONAL PROVISIONS

   42.     Validation of certain Orders
   43.     Credit Regulations 1995.
   44.     Exemptions
   45.     Registered credit providers deemed to be registered under this Act
   46.     Register of credit providers
   47.     Application for registration
   48.     Transitional provision for registration of credit providers
   49.     Transitional provision relating to objections
   50.     Special savings and transitional regulations for Victoria

   PART 7-CONSEQUENTIAL AMENDMENTS

           Division 1-Credit Act 1984.

   51.     New sections 19A and 19B inserted
   52.     Amendment of section 85 of Credit Act 1984.
   53.     New section 86A inserted in the Credit Act 1984.
   54.     New section 167E inserted in Credit Act 1984.

           Division 2-Credit (Administration) Act 1984.

   55.     Amendment of Credit (Administration) Act 1984.
   56.     Amendment of Part 2 of the Credit (Administration) Act 1984.

   PART 2-THE DIRECTOR

   57.     Further amendment of Credit (Administration) Act 1984.
   58.     New Part 5A inserted in Credit (Administration) Act 1984.

   PART 5A-CONSUMER CREDIT FUND

   59.     Amendment of sections 86 and 95.

           Division 3-Other Acts

   60.     Amendment of section 32 of the Interpretation of
           Legislation Act 1984.
   61.     New section 38C inserted in Interpretation of Legislation Act 1984.
   62.     Consequential amendments
           __________________
           SCHEDULE 1-Repealed
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           ENDNOTES
           1. General Information
           2. Table of Amendments
           3. Explanatory Details