Consumer Credit Legislation Amendment (Enhancements) Act 2012
An Act to amend the law relating to consumer credit and consumer protection, and for related purposes
1 Short title
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.5
2 Commencement
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.6
1 Section 1
17 September
2 Section 2
1 March 2013.
1 March 2013
2A Section 2A
18 September
2B Section 2B
2C Section 2C
2D Section 2D
The day after this Act receives the Royal Assent.
2E Section 2E
2F Section 2F
2G Section 2G
Reference to Schedule 2, items 21 and 22
2H Section 2H
2J Section 2J
2K Section 2K
3 Section 3
1 July 2013.
1 July 2013
4 Section 4
4A Section 4A
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.7
5 Section 5
3 Schedule(s)
Amendments and repeals of Acts specified in a Schedule.
1 Section 72 of the National Credit Code
Repeal section and substitute with new provision
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.8
72 Changes on grounds of hardship
72(1) Changes on grounds of hardship
Debtor's obligation to provide hardship notice
72(2) Changes on grounds of hardship
Debtor must provide specified information within 21 days of notice.
Imposes a duty on the credit provider to receive specified information from the debtor.
72(3) Changes on grounds of hardship
72(4) Changes on grounds of hardship
Credit provider must provide notice to debtor before end of period identified under subsection (5)
72(5) Changes on grounds of hardship
Credit provider must give notice within specified period after receiving hardship notice.
Must provide notice within specified period.
72(6) Changes on grounds of hardship
Provides for subsections to have effect in relation to credit contracts
2 Subsection 73(1) of the National Credit Code
Omit 'on any such application', substitute 'to change the credit contract as a result of a hardship notice by the debtor'
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.10
Prohibits changing credit contracts without hardship notice
3 Subsection 74(1) of the National Credit Code
Omit 'in accordance with the application', substitute 'as a result of a hardship notice by the debtor'
Prohibits 'in accordance with the application'
Replaces 'in accordance with the application' with 'as a result of a hardship notice by the debtor'
4 Subsection 74(2) of the National Credit Code
Court may change credit contract after hearing parties.
5 Subparagraphs 88(3)(f)(i) and (ii) of the National Credit
Substitute hardship notice or postponement request
6 After section 89 of the National Credit Code
Insert clause after section 89 of the National Credit Code
89A Effect of hardship notices on enforcement
89A(1) Effect of hardship notices on enforcement
Credit provider must give default notice before enforcement proceedings if debtor gives hardship notice.
Obligation to give default notice before enforcement proceedings.
Credit provider is required to give a default notice under section 88.
The credit provider must give the default notice before beginning enforcement proceedings.
Condition for giving default notice: hardship notice given within 4 months.
The current hardship notice was given in the 4 months before the day it was given.
The hardship notice was given within the 4-month period.
Obligation to give default notice if debtor gives hardship notice.
The credit provider is required to give a default notice under section 88 before beginning enforcement proceedings.
Obligation to give default notice if credit provider reasonably believes basis is materially different.
The credit provider reasonably believes that the basis on which the current hardship notice was given is materially different from the bases on which the other hardship notices were given.
89A(2) Effect of hardship notices on enforcement
Credit provider must not begin enforcement proceedings without notice and 14-day period.
(2) The credit provider must not begin enforcement proceedings...
89A(3) Effect of hardship notices on enforcement
Credit provider may take possession of mortgaged goods under certain circumstances.
Prohibits removal or disposal of mortgaged goods without permission.
(a) the debtor or mortgagor has removed or disposed of the mortgaged goods, or intends to remove or dispose of them,
The credit provider may take possession of mortgaged goods under certain circumstances.
Prohibits urgent action that would protect the goods.
(b) urgent action is necessary to protect the goods.
The circumstances under which the credit provider may take possession of mortgaged goods overlap with the debtor's or mortgagor's actions.
The credit provider's action overlaps with the debtor's or mortgagor's action.
The circumstances under which the credit provider may take possession of mortgaged goods repeat in certain situations.
The credit provider's action repeats in urgent situations.
Permits the credit provider to take possession of mortgaged goods under certain circumstances.
(3) However, the credit provider may take possession of mortgaged goods if the credit provider reasonably believes that:
The credit provider's belief is a necessary condition for taking possession.
89A(4) Effect of hardship notices on enforcement
Strict liability for enforcement of hardship notices
(4) Subsection (2) is an offence of strict liability.
7 Subsection 94(1) of the National Credit Code
Postponement request for debtors, mortgagors or guarantors given default notices under section 88 or demand for payment under section 90
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.11
Imposes a duty on the State to consider postponement requests from debtors, mortgagors or guarantors
Defines the temporal interval during which postponement requests are considered
Temporal interval from default notice to demand for payment
8 Subsection 94(2) of the National Credit Code
Substitute words in subsection 94(2) of the National Credit Code.
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.12
9 Subsections 94(3) and (4) of the National Credit Code
9(3) Subsections 94(3) and (4) of the National Credit Code
Credit provider must not begin enforcement proceedings unless notice is given and 14-day period has expired.
14-day period overlaps with remedying default period
9(4) Subsections 94(3) and (4) of the National Credit Code
(a) the debtor or mortgagor has removed or disposed of the mortgaged goods, or intends to remove or dispose of them, without the credit provider’s permission;
Prohibits urgent action to protect goods without permission.
(b) urgent action is necessary to protect the goods;
Overlaps with urgent action to protect goods.
The removal or disposal of mortgaged goods overlaps with urgent action to protect goods.
Recurring trace of removal or disposal of mortgaged goods.
The removal or disposal of mortgaged goods is a recurring trace.
Diffuses to all parties involved in the contract.
The removal or disposal of mortgaged goods diffuses to all parties involved in the contract.
9(5) Subsections 94(3) and (4) of the National Credit Code
Offences of strict liability for subsections (2) and (3)
10 After section 180
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.13
180A Orders to remedy unfair or dishonest conduct by credit
180A(1) Orders to remedy unfair or dishonest conduct by credit
Prohibition on unfair or dishonest conduct by credit service providers
Prohibition on unfair or dishonest conduct
(a) a person (the defendant) provided a credit service to a consumer (the plaintiff); and (b) the defendant engaged in conduct that...
The court may not make an order if the defendant did not engage in such conduct.
(c) the conduct had one or more of the following results...
Temporal interval for prohibited conduct
The conduct must have occurred within a certain temporal interval.
(i) the plaintiff entered a credit contract, consumer lease, mortgage or guarantee that the plaintiff would not have entered apart from the conduct;
180A(2) Orders to remedy unfair or dishonest conduct by credit
Order to take or refrain from specified action
Obligation to take or refrain from specified action
11 Section 184
Add 'or another Act' at the end of section 184.
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.16
12 Section 125 (paragraph relating to Division 3)
Omit specific action from credit contract
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.17
Prohibits entering or increasing credit limit
13 Division 3 of Part 3-2 (heading)
Repeal heading and substitute with new text.
14 Section 128 (heading)
128 Obligation to assess unsuitability
15 After paragraph 128(a)
Licensee must make an unconditional representation to a consumer
16 After paragraph 128(b)
Mandatory representation to consumer about credit limit increase
17 Section 148 (paragraph relating to Division 3)
Omit specific action from consumer lease
18 Division 3 of Part 3-4 (heading)
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.18
19 Section 151
Repeal section and substitute with new content.
151 Obligation to assess unsuitability
Licensee must not enter a consumer lease with an eligible consumer without assessment.
Prohibits entering a lease with an eligible consumer without assessment.
20 Section 152
Replace paragraph 151(a) with paragraph 151(c)
21 Subsection 153(1)
Omit paragraph 151(b), substitute paragraph 151(d)
22 Section 27 (paragraph relating to Division 3)
Omit certain provisions related to licensing and information disclosure.
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.19
23 Division 3 of Part 2-1 (heading)
24 Section 33
25 After Part 3-6
160A Guide to this Part
Responsible lending conduct is required for credit activities.
160D Prohibition on giving misleading information etc.
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.22
160D(1) Prohibition on giving misleading information etc.
Giving misleading information is prohibited.
Prohibits giving misleading information.
160D(2) Prohibition on giving misleading information etc.
Giving false information in a credit activity is prohibited.
Prohibits giving false information in a credit activity.
Criminal penalty: 100 penalty units, or 2 years imprisonment, or both.
160E Requirements for giving authorisation to employer
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.23
160E(1) Requirements for giving authorisation to employer
Credit provider or lessor must give statement to employer
160E(2) Requirements for giving authorisation to employer
Credit provider or lessor must give employer a statement with the instrument.
Classification of credit contracts and consumer leases.
160E(3) Requirements for giving authorisation to employer
Credit provider/lessor must give debtor/lessee at least 7 days' notice before giving instrument to employer.
160E(4) Requirements for giving authorisation to employer
No regulations in force means subsection (3) does not apply.
26 Section 124 of the National Credit Code (heading)
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.25
124 Civil effect of contraventions
27 Subsection 124(1) of the National Credit Code
Prohibits omission of specified provision
28 Subsection 124(2) of the National Credit Code
Allow for an application by a person affected, ASIC on behalf of a person affected with consent, or ASIC alone.
29 Subsection 19(1) of the National Credit Code
Substitute 'new contract document' for 'contract document'
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.26
30 Section 32 of the National Credit Code
32 Fees or charges in relation to third parties
32(1) Fees or charges in relation to third parties
Debtor must pay third party amount to credit provider
third party amount payable or paid by credit provider
32(2) Fees or charges in relation to third parties
Fee or charge must not exceed third party amount if ascertainable
32(3) Fees or charges in relation to third parties
Refund difference if third party amount is less than fee or charge paid
then the credit provider must refund or credit the difference to the debtor.
32(4) Fees or charges in relation to third parties
Determine third party amount considering discounts and allowances
31 Paragraph 36(1)(c) of the National Credit Code
Repeal paragraph and substitute with new obligation.
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.27
32 Paragraph 36(1)(d) of the National Credit Code
Substitute 'becomes due' for 'became due'
33 Subsection 38(4) of the National Credit Code
Omit specific phrase from National Credit Code
34 Subsection 38(5) of the National Credit Code
35 Subsection 38(6) of the National Credit Code
Omit specific provision, substitute with new one
36 At the end of subsection 38(6) of the National Credit Code
Criminal penalty of 50 penalty units added
Prohibits criminal penalty of 50 penalty units
37 Subsection 38(9) of the National Credit Code
Omit 'Subsection (8) is an offence', substitute 'Subsections (6) and (8) are offences'
38 Division 6 of Part 2 of the National Credit Code
Repeal Division and substitute with new content.
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.28
40 Changes etc. under contracts
Change, deferral, waiver, or postponement of credit contract not creating new contract.
Obligation to comply with changes in credit contracts.
Change, deferral, waiver, or postponement made in accordance with this Code.
Changes in credit contracts overlap with existing credit contracts.
Changes in credit contracts are recurrently applied to existing credit contracts.
Changes in credit contracts diffuse to existing credit contracts.
Changes in credit contracts are inferred to be part of existing credit contracts.
39 Subsection 71(1) of the National Credit Code
Substitute 'existing credit contract' for 'credit contract'
Imposes obligation to update credit contracts
State has a duty to update credit contracts
40 Subsection 83(1) of the National Credit Code (penalty)
41 Subsection 83(3) of the National Credit Code
Omit “after the request”, substitute ‘after the day the request’.
42 Subsection 83(5) of the National Credit Code
Subsection (3) is an offence of strict liability.
43 Subsection 87(2) of the National Credit Code
Omit 'direct debit default notice under this section within 10 business days'
Prohibition of direct debit default notice
44 Subsection 87(3) of the National Credit Code
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.29
45 Paragraphs 88(5)(a) and (d) of the National Credit Code
46 Subsection 88(6) of the National Credit Code
Substitute 'reasonably believes' for 'believes on reasonable grounds'
47 Subsection 89(1) of the National Credit Code
Insertion of text after a default notice
48 Paragraphs 93(1)(c), (2)(a) and (2)(d) of the National Credit
Substitute words in National Credit Code
49 Subsection 95(1) of the National Credit Code
Substitute default notice/demand for payment with specific sections
50 Subsection 98(1) of the National Credit Code
Substitute time frame for notice to mortgagor
51 Section 206 of the National Credit Code
Repeal section 206 of the National Credit Code
Repeals section 206 of the National Credit Code
52 Section 129
Fix incorrect cross-reference in section 129.
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.30
53 Subsection 130(1)
54 Paragraph 181(b)
55 Subparagraph 88(3)(g)(i) of the National Credit Code
56 Subsection 127(2) of the National Credit Code
Substitute 'tied continuing credit contract' with itself.
57 Section 129 of the National Credit Code (heading)
129 Right to damages under sale contract against both supplier and
Right to damages under sale contract against both supplier and linked credit provider
58 Section 130 of the National Credit Code (heading)
130 Limits on debtor’s right of action against linked credit provider
Limits on debtor’s right of action against linked credit provider
59 Section 131 of the National Credit Code (heading)
131 Liability of supplier to linked credit provider
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.31
60 Section 132 of the National Credit Code (heading)
132 Interest may be awarded
61 Section 133 of the National Credit Code (heading)
133 Subrogation of credit provider
62 Subsection 204(1) of the National Credit Code (definition
1 Subsection 5(1)
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.32
2 At the end of Part 1 of the National Credit Code
13A Reverse mortgages
13A(1) Reverse mortgages
Conditions for a reverse mortgage arrangement to be considered valid.
13A(2) Reverse mortgages
Debtor's total liability must not exceed the maximum amount of credit.
13A(3) Reverse mortgages
Meet prerequisites for reverse mortgage arrangement
13A(4) Reverse mortgages
Declare specified kinds of arrangements involving a credit contract and a mortgage to be reverse mortgages.
3 Subsection 204(1) of the National Credit Code
References section 13A for reverse mortgage
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.33
4 Subsection 5(1)
Definition of reverse mortgage information statement
5 Subsection 204(1) of the National Credit Code
Debtors must reasonably expect to receive a lump sum before the contract ends and intend to discharge their obligations with that sum.
Debtors have an obligation to reasonably expect to receive a lump sum before the contract ends and intend to discharge their obligations with that sum.
The term of the contract must be 2 years or less.
6 Subsection 204(1) of the National Credit Code
Inserts Schedule 2, Reverse Mortgages into the National Credit Code
7 Subsection 204(1) of the National Credit Code
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.34
8 Subsection 204(1) of the National Credit Code
Definition of reverse mortgaged property
reverse mortgaged property is a subclass of dwelling or land
dwelling or land is a superclass of reverse mortgaged property
9 At the end of section 133
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.35
10 Before Part 3-3
133DA Guide to this Part
Licensees must provide projections of debtor's equity in the property.
133DB Giving projections of equity before providing credit
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.36
133DB(1) Giving projections of equity before providing credit
Licensee must provide projections to consumer before making a preliminary assessment for a reverse mortgage.
projections, printed copy of projections, information statement
133DB(2) Giving projections of equity before providing credit
Failure to provide projections of equity before providing credit is an offence.
Prohibition on not providing projections of equity before providing credit.
133DB(3) Giving projections of equity before providing credit
Defence for licensee if they reasonably believe another person has shown consumer projections or given them a copy.
Licensee has a defence if they reasonably believe...
13 Section 13
Defence for circumstances prescribed by regulations.
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.37
Defence for not giving reverse mortgage information statement
133DC Making reverse mortgage information statement available
Make reverse mortgage information statement available on website.
133DD Making reverse mortgage information statement available in
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.38
133DD(1) Making reverse mortgage information statement available in
Licensee must provide reverse mortgage information statement to consumer upon request.
Obligation to provide information statement.
133DD(2) Making reverse mortgage information statement available in
Must provide reverse mortgage information statement
133DD(3) Making reverse mortgage information statement available in
...the conduct contravenes the requirement.
...and (b) the person engages in conduct; and...
Sequence of events leading to non-compliance
133DD(4) Making reverse mortgage information statement available in
Licensee must provide reverse mortgage information statement under certain circumstances.
Licensee must provide reverse mortgage information statement.
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.39
133DE Representations that use the term “reverse mortgage” etc.
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.40
133DE(1) Representations that use the term “reverse mortgage” etc.
Use of specific terms in credit representations is prohibited.
133DE(2) Representations that use the term “reverse mortgage” etc.
Use of certain terms in credit representations is prohibited.
Prohibition on using certain terms in credit representations.
133DE(3) Representations that use the term “reverse mortgage” etc.
Defence for representations using the term “reverse mortgage” etc.
11 At the end of section 179
11(6) At the end of section 179
Prohibits entering into or increasing credit contracts for reverse mortgages that are not suitable for the debtor.
(6) Subsection (7) applies if: (a) the defendant is a credit provider who has contravened section 133 by entering into, or increasing the credit limit of, a credit contract (the illegal contract) that is not a credit contract for a reverse mortgage; and
The credit contract was entered into within the period in which an assessment needed to be made.
(6) Subsection (7) applies if: (c) the court is satisfied that, at any time in the period in which an assessment needed to be made to comply with section 128 in relation to the illegal contract:
The debtor would have been eligible to enter into a credit contract for the reverse mortgage.
(6) Subsection (7) applies if: (ii) the debtor would have been eligible to enter into a credit contract for the reverse mortgage; and
The court is obligated to let the plaintiff reside in the place.
(6) Subsection (7) applies if: (d) the plaintiff, or ASIC on behalf of the plaintiff, applies for an order under this section to let the plaintiff reside in the place to prevent or reduce loss or damage suffered or likely to be suffered by the plaintiff vacating the place.
11(7) At the end of section 179
Court must consider order to prevent loss or damage and make it unless adverse effect on other person is satisfied.
12 After subsection 17(15) of the National Credit Code
Debtor can nominate a person to occupy reverse mortgaged property.
Provisions for occupation by person other than debtor
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.42
13 After section 18 of the National Credit Code
Provisions applying to credit providers generally
18A Provisions that must not be included in credit contract for
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.43
18A(1) Provisions that must not be included in credit contract for
Prohibits credit providers from entering into reverse mortgage contracts that allow enforcement proceedings for certain events.
18A(2) Provisions that must not be included in credit contract for
Cannot change credit contract for reverse mortgage to facilitate enforcement proceedings.
Prohibition of changing credit contract for reverse mortgage.
18A(3) Provisions that must not be included in credit contract for
Events that must not be included in credit contract for
18B Disclosure if credit contract for reverse mortgage does not
Protection of tenancy for a person other than the debtor in reverse mortgage credit contracts.
18C Independent legal advice before entry into credit contract for
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.44
18C(1) Independent legal advice before entry into credit contract for
Regulation of entry into credit contract for reverse mortgage without legal advice.
Prohibition of entry into credit contract for reverse mortgage without legal advice.
18C(2) Independent legal advice before entry into credit contract for
Offences and civil penalties for contraventions of regulations
Regulations may provide for offences and civil penalties
(2) The regulations may provide for offences and civil penalties
18C(3) Independent legal advice before entry into credit contract for
Penalties for offences cannot exceed 50 penalty units for an individual or 250 penalty units for a body corporate.
18C(4) Independent legal advice before entry into credit contract for
Maximum civil penalties for individual and body corporate
Prohibits exceeding maximum civil penalties
(4) The civil penalties described in subsection (2)
must not be more than 500 penalty units for an individual or 2,500 penalty units for a body corporate.
14 At the end of section 22 of the National Credit Code
Exemption from subsection (1) of section 18B
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.45
15 At the end of section 26 of the National Credit Code
Credit contract for reverse mortgage cannot prohibit early payment under certain circumstances.
Cannot prohibit early payment under certain circumstances.
16 After paragraph 33(2)(a) of the National Credit Code
12 months for continuing credit contracts for reverse mortgages
17 After paragraph 33(2)(b) of the National Credit Code
12 months after a reverse mortgage not involving a continuing credit contract
18 After section 67 of the National Credit Code
Insert clause after section 67 of the National Credit Code
67A Changes to tenancy protection in credit contracts for reverse
Voiding of changes to credit contracts for reverse mortgages
Prohibition on changing credit contracts
19 Division 1 of Part 5 of the National Credit Code (heading)
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.46
20 After section 86 of the National Credit Code
Ending of reverse mortgage by credit provider
86A Application of this Subdivision
86A(1) Application of this Subdivision
Debtor's accrued liability exceeds the adjusted market value for the reverse mortgaged property.
86A(2) Application of this Subdivision
Adjusted market value calculation for reverse mortgaged property
86B Discharge of debtor’s obligations under credit contract and
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.47
86B(1) Discharge of debtor’s obligations under credit contract and
Debt obligations under credit contract discharged
86B(2) Discharge of debtor’s obligations under credit contract and
Debt obligations under credit contract are discharged.
86C Credit provider must pay debtor excess of receipt over adjusted
Credit provider must pay excess to debtor
86D Credit provider must not demand or accept further payments
86D(1) Credit provider must not demand or accept further payments
Credit provider must not demand or accept further payments
86D(2) Credit provider must not demand or accept further payments
Prohibition of demanding or accepting further payments
86E Cases in which sections 86B, 86C and 86D do not apply
Fraud or misrepresentation in reverse mortgage
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.48
Overlaps with circumstances prescribed by regulations
Circumstances prescribed by the regulations exist
86F Relationship between this Subdivision and other provisions
Relationship between this Subdivision and other provisions
21 Subsections 88(1) and (2) of the National Credit Code
21(1) Subsections 88(1) and (2) of the National Credit Code
Credit provider must give debtor a 30-day notice before enforcing a credit contract.
21(2) Subsections 88(1) and (2) of the National Credit Code
Credit provider must not begin enforcement proceedings without a default notice and remedy period.
Prohibition of enforcement proceedings without a default notice and remedy period.
(2) A credit provider must not begin enforcement proceedings...
...unless the conditions in (c) are met.
Temporal interval for the remedy period.
(c) the default has not been remedied within that period.
22 After subsection 88(7) of the National Credit Code
Notice purporting to be a default notice is not valid for reverse mortgage defaults
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.49
Default notice implies a default under the credit contract
23 At the end of Division 2 of Part 5 of the National Credit
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.50
93A Extra requirements for enforcing reverse mortgage if debtor’s
93A(1) Extra requirements for enforcing reverse mortgage if debtor’s
Extra requirements for enforcing reverse mortgage if debtor’s obligations exceed the amount received.
93A(2) Extra requirements for enforcing reverse mortgage if debtor’s
Credit provider must not begin enforcement proceedings unless notice is given to debtor or lawyer.
(i) the amount received by the credit provider; (ii) the debtor’s accrued liability just before that amount was received; and (iii) the conditions in section 86E that are met
Prohibition on beginning enforcement proceedings without proper notice
(2) If section 88 requires the credit provider to give the debtor or mortgagor a default notice...
(iii) the conditions in section 86E that are met
24 After paragraph 111(1)(h) of the National Credit Code
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.51
25 After paragraph 111(2)(e) of the National Credit Code
26 After section 185 of the National Credit Code
Insert clause after section 185 of the National Credit Code
185A Records of nominations of persons to occupy reverse
185A(1) Records of nominations of persons to occupy reverse
Credit provider must keep records of nominations and revocations.
185A(2) Records of nominations of persons to occupy reverse
Failure to comply with a requirement is an offence.
...the person’s conduct contravenes the requirement.
...the person engages in conduct; and...
Temporal overlap between requirement and non-compliance
Definition of short-term credit contract
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.52
2 Subsection 5(1)
Definition of a small amount credit contract
Term of the contract is at least 16 days but not longer than 1 year
Term of the contract meets the minimum duration requirement
Debtor’s obligations under the contract are not, and will not be, secured
Contract does not secure debt obligations
Contract term meets the maximum duration requirement
Contract meets any other requirements prescribed by the regulations
Contract must comply with additional regulations
3 At the end of section 111
Division 7 prohibits a licensee from providing credit assistance to a consumer in relation to short-term credit contracts.
Prohibition of providing credit assistance
4 After subsection 117(1)
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.53
4(1A) After subsection 117(1)
Licensee must obtain account statements for consumer's financial situation.
Obligation to provide account statements
4(1B) After subsection 117(1)
Subsection (1A) does not limit paragraph (1)(c) of this section.
Subsection (1A) implies paragraph (1)(c)
5 After subsection 118(3)
Presumption of substantial hardship for consumer to comply with financial obligations under contract.
Consumer is a debtor under another small amount credit contract.
Consumer could only comply with financial obligations under the relevant contract with substantial hardship.
Temporal overlap between consumer's financial obligations and other credit contracts
The consumer has been a debtor under another small amount credit contract in the 90-day period before the time of the preliminary assessment.
The consumer's financial obligations overlap with other credit contracts.
Recurring pattern of consumer's financial obligations and default
The consumer has been a debtor under 2 or more other small amount credit contracts in the 90-day period before the time of the preliminary assessment.
A recurring pattern of consumer's financial obligations and default exists.
Diffusion of consumer's financial obligations to other credit contracts
The consumer is a debtor under another small amount credit contract.
Consumer's financial obligations diffuse to other credit contracts.
Recognition of consumer's financial situation by the state
The state inserts a new subsection into the Act.
The state recognizes consumer's financial situation as having substantial hardship.
6 After subsection 123(3)
Presumption of substantial hardship for consumer with multiple debt obligations
Consumer is a debtor under another small amount credit contract and Consumer is in default in payment of an amount under that other contract
It is presumed that the consumer could only comply with the consumer’s financial obligations under the relevant contract with substantial hardship
Temporal overlap between debt obligations
Consumer has been a debtor under 2 or more other small amount credit contracts in the 90-day period before the time the licensee provides the credit assistance
The consumer’s debt obligations overlap with each other
There is a recurring pattern of debt obligations
The consumer’s debt obligations diffuse into each other
Recognition of consumer’s financial obligations
The system recognizes the consumer’s financial obligations
7 At the end of Part 3-1
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.54
124A Prohibition on providing credit assistance in relation to
124A(1) Prohibition on providing credit assistance in relation to
Prohibition on providing credit assistance in relation to short-term credit contracts.
Prohibits the licensee from providing credit assistance.
Restricts actions during short-term credit contracts.
(1) A licensee must not provide credit assistance to a consumer by: (a) suggesting that the consumer apply, or assisting the consumer to apply, for a short-term credit contract; or (b) suggesting that the consumer apply, or assisting the consumer to apply, for an increase to the credit limit of a particular short-term credit contract with a particular credit provider.
124A(2) Prohibition on providing credit assistance in relation to
Prohibition on providing credit assistance in relation to certain conduct.
Prohibits the provision of credit assistance.
Defines the temporal interval for the prohibition.
124B Licensee who makes representations about credit assistance in
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.55
124B(1) Licensee who makes representations about credit assistance in
Display information about credit assistance and ensure website compliance.
124B(2) Licensee who makes representations about credit assistance in
Engaging in conduct that contravenes a requirement is an offence.
(a) the person is subject to a requirement under subsection (1); and (b) the person engages in conduct; and (c) the conduct contravenes the requirement.
Requires relation between temporal intervals
Requires a relation between identifiable temporal intervals
(2) A person commits an offence if: (a) the person is subject to a requirement under subsection (1); and (b) the person engages in conduct; and (c) the conduct contravenes the requirement.
Requires an ordered or recurring trace of conduct
8 After subsection 130(1)
8(1A) After subsection 130(1)
Licensee must obtain and consider account statements for consumer's financial situation.
8(1B) After subsection 130(1)
9 At the end of subsection 131(1) (before the note)
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.56
10 Subsection 131(2) (penalty)
11 After subsection 131(3)
Presumption of substantial hardship in case of multiple debtors
12 After subsection 133(3)
Presumption of substantial hardship for consumer to comply with financial obligations under a contract.
Consumer could only comply with financial obligations with substantial hardship
90-day period before contract entry or limit increase
The consumer has been a debtor under 2 or more other small amount credit contracts in the 90-day period
The time frame is relevant to the presumption of substantial hardship
The consumer has been a debtor under multiple small amount credit contracts
The pattern of debt is relevant to the presumption of substantial hardship
Consumer debt history is represented as a network
The network is used to infer the presumption of substantial hardship
Validation of consumer data against schema
The consumer's debt history is validated against a schema
The validation confirms the classification of substantial hardship
13 After Part 3-2B
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.57
133C Guide to this Part
Applicable to licensees who are, or are to be credit providers under short-term credit contracts and small amount credit contracts.
Indicates applicability to a specific group.
133CA Prohibition on entering, or increasing the credit limit of,
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.58
133CA(1) Prohibition on entering, or increasing the credit limit of,
Prohibition on entering or increasing credit limit of short-term credit contract with a consumer who is the debtor under the contract.
Tracing the licensee's actions to determine if they have entered or increased the credit limit of a short-term credit contract with a consumer who is the debtor under the contract.
133CA(2) Prohibition on entering, or increasing the credit limit of,
Prohibition on entering or increasing credit limit
133CB Licensee who makes representations about small amount
133CB(1) Licensee who makes representations about small amount
Display information and ensure website compliance.
Obligation to display information and ensure website compliance.
133CB(2) Licensee who makes representations about small amount
The conduct contravenes the requirement.
Requires overlap between conduct and requirement
(b) the person engages in conduct; and (c) the conduct contravenes the requirement.
The conduct overlaps with the requirement.
The conduct repeats with the requirement.
Recognizes agents subject to requirements
133CC Licensee must not enter into a small amount credit contract
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.59
133CC(1) Licensee must not enter into a small amount credit contract
Licensee must not enter into a small amount credit contract with a consumer who will be the debtor under the contract.
Prohibits entering into a small amount credit contract with a consumer.
(1) A licensee must not enter into, or offer to enter into, a small amount credit contract...
Classifies the contract as a small amount credit contract.
...with a consumer who will be the debtor under the contract.
...if: (a) the consumer is included in a class of consumers prescribed by the regulations; and
Defines the recurring trace for the prohibition.
...with a consumer who will be the debtor under the contract if: (a) the consumer is included in a class of consumers prescribed by the regulations; and
Imposes an obligation on the licensee to not enter into a small amount credit contract.
Implies that the licensee's action is prohibited if certain conditions are met.
133CC(2) Licensee must not enter into a small amount credit contract
Licensee must not enter into a small amount credit contract
14 Paragraph 180(1)(b)
Engaging in activity contravenes certain sections.
15 After section 335
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.60
335A Review relating to small amount credit contracts
335A(1) Review relating to small amount credit contracts
Review of certain provisions and establishment of a national database for small amount credit contracts
Review must be undertaken as soon as practicable after 1 July 2015
as soon as practicable after 1 July 2015:
Establishment of a national database is optional
whether a national database of small amount credit contracts should be established:
335A(2) Review relating to small amount credit contracts
The review must be undertaken by 3 persons who possess appropriate qualifications.
335A(3) Review relating to small amount credit contracts
The persons undertaking the review must provide a written report to the Minister.
335A(4) Review relating to small amount credit contracts
Minister must table report in each House of Parliament within 15 sitting days.
335A(5) Review relating to small amount credit contracts
The report must be submitted within a certain timeframe.
1A At the end of paragraph 335A(1)(a)
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.61
Adding sections to the National Credit Code
1 Subsections 17(4) to (6) of the National Credit Code
Modify contract wording in National Credit Code
2 Section 23 of the National Credit Code (heading)
23 Prohibited monetary obligations—general
3 Subsection 23(1) of the National Credit Code
Insertion of a term in the National Credit Code
4 After section 23 of the National Credit Code
Insert clause after section 23 of the National Credit Code
23A Prohibited monetary obligations—small amount credit
23A(1) Prohibited monetary obligations—small amount credit
Prohibited monetary obligations—small amount credit
Forbids small amount credit contracts from imposing certain monetary liabilities
(1) A small amount credit contract must not impose a monetary liability on the debtor:
Forbids small amount credit contracts from imposing certain fees or charges
in respect of a fee or charge prohibited by this Code;
(c) in respect of an amount of a fee or charge exceeding the amount that may be charged consistently with this Code.
Applies to interest charges during the contract period
23A(2) Prohibited monetary obligations—small amount credit
Voiding of provisions imposing prohibited monetary liabilities
5 Section 24 of the National Credit Code (heading)
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.62
24 Offences related to prohibited monetary obligations—credit
Offences related to prohibited monetary obligations—credit
6 After subsection 24(1) of the National Credit Code
Credit provider must not enter into a small amount credit contract with prohibited terms.
Prohibition of entering into a small amount credit contract with prohibited terms.
Credit provider must not enter into a small amount credit contract on terms imposing a monetary liability prohibited by subsection 23A(1); or
Temporal relation between the prohibition and the credit contract.
After subsection 24(1) of the National Credit Code
Recurring trace of prohibited terms in the credit contract.
Knowledge representation of the prohibition in the National Credit Code.
Monetary liability prohibited by subsection 23A(1); or
Validation of the prohibition against entering into a small amount credit contract.
7 Subsection 24(2) of the National Credit Code
Omit 'Subsection (1) is an offence', substitute 'Subsections (1) and (1A) are offences'.
8 After section 24 of the National Credit Code
Insert clause after section 24 of the National Credit Code
24A Offences related to prohibited monetary obligations—credit
24A(1) Offences related to prohibited monetary obligations—credit
Prohibition on providing credit assistance to consumers that may contravene subsection 23A(1).
Prohibition on providing credit assistance.
24A(2) Offences related to prohibited monetary obligations—credit
Prohibition on providing credit assistance to consumers in relation to prohibited monetary obligations.
9 After section 27 of the National Credit Code
Insert clause after section 27 of the National Credit Code
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.63
27A Application of this Division
Division does not apply to small amount credit contracts.
10 Section 31 of the National Credit Code
Insertion of '(1)' before 'The regulations'
11 At the end of section 31 of the National Credit Code
Small amount credit contracts are exempt from subsection (1) of section 31.
12 After section 31 of the National Credit Code
31A Restrictions on fees and charges for small amount credit
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.64
31A(1) Restrictions on fees and charges for small amount credit
No fees and charges for small amount credit contracts except certain kinds.
31A(1A) Restrictions on fees and charges for small amount credit
No permitted establishment fee for refinance of credit
31A(2) Restrictions on fees and charges for small amount credit
Maximum amount of permitted monthly fee must not exceed 20% of the adjusted credit amount.
31A(3) Restrictions on fees and charges for small amount credit
Maximum monthly fee for small amount credit contract
31B Credit provider or prescribed person must not require or
31B(1) Credit provider or prescribed person must not require or
Credit provider or prescribed person must not require payment by debtor for certain transactions.
(1) A credit provider, or a person prescribed by the regulations, must not require...
31B(2) Credit provider or prescribed person must not require or
No requirement or charge that may be imposed by the small amount credit contract under section 31A or prescribed by regulations.
31B(3) Credit provider or prescribed person must not require or
Credit provider or prescribed person must not require or
13 After Division 4 of Part 2 of the National Credit Code
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.65
32A Prohibitions relating to credit contracts if the annual cost rate
32A(1) Prohibitions relating to credit contracts if the annual cost rate
Prohibits entering into credit contracts with annual cost rates exceeding 48%.
32A(2) Prohibitions relating to credit contracts if the annual cost rate
Prohibits providing credit assistance if annual cost rate exceeds 48%.
32A(3) Prohibitions relating to credit contracts if the annual cost rate
Prohibition on charging fees for credit assistance
(3) If a person provides credit assistance to a consumer that is prohibited by subsection (2):
(a) the consumer is not liable (and is taken never to have been liable) to pay any fees or charges to the person in relation to:
32A(4) Prohibitions relating to credit contracts if the annual cost rate
Exemptions from prohibition on credit contracts
32AA Prohibition relating to the annual cost rate of credit
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.66
32AA(1) Prohibition relating to the annual cost rate of credit
Prohibition on credit providers exceeding 48% annual cost rate if certain conditions occur after contract entry.
Prohibition on exceeding 48% annual cost rate.
...the credit provider contravenes this subsection.
Temporal interval for calculating annual cost rate.
(i) the annual percentage rate under the contract increases;
...the credit provider contravenes this subsection if...
Recurring trace for monitoring credit contracts.
(ii) an amount referred to in subsection 32B(3)...
32AA(2) Prohibition relating to the annual cost rate of credit
Prohibition on contravening subsection (1)
(2) A credit provider must not contravene subsection (1)
A credit provider must not contravene subsection (1)
32B Calculation of annual cost rate
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.67
32B(1) Calculation of annual cost rate
32B(2) Calculation of annual cost rate
Defines t as a multiple of the interval between contractual repayments
32B(3) Calculation of annual cost rate
Obligation to calculate credit cost amount
32B(4) Calculation of annual cost rate
Exclude government fees from credit contract amounts.
32B(4A) Calculation of annual cost rate
Exemptions from calculation of annual cost rate
Exempts specified amounts from calculation
32B(5) Calculation of annual cost rate
Annual cost rate must be correct to at least the nearest one hundredth of 1% per annum.
32B(6) Calculation of annual cost rate
Reasonable approximations may be made in calculating annual cost rate.
32B(7) Calculation of annual cost rate
The tolerances and assumptions under sections 180 to 182 apply to the calculation of the annual cost rate.
The provision applies to the calculation of the annual cost rate.
32B(8) Calculation of annual cost rate
Debtor must pay minimum repayments and not be supplied with further goods or services or cash.
Establishes minimum repayment obligation
14 Subsection 34(6) of the National Credit Code
Omit 'A statement', substitute 'In the case of a credit contract other than a small amount credit contract, a statement'
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.70
Substitute ‘In the case of a credit contract other than a small amount credit contract, a statement’
Replaces 'A statement' with 'In the case of a credit contract other than a small amount credit contract, a statement'
15 After Division 5 of Part 2 of the National Credit Code
Insert clause after Division 5 of Part 2 of the National Credit Code
39A Limit on the application of amount of credit provided under a
39A(1) Limit on the application of amount of credit provided under a
No part of the amount of credit may be applied to pay an amount to the credit provider or a person prescribed by the regulations.
Prohibits paying an amount to the credit provider or a person prescribed by the regulations.
(1) No part of the amount of credit provided under a small amount credit contract may be applied to pay an amount (the prohibited credit amount) to:
Prohibits paying an amount within the specified time frame.
Diffuses the prohibition on paying an amount to the credit provider or a person prescribed by the regulations.
Uses cognitive AI to enforce the prohibition on paying an amount to the credit provider or a person prescribed by the regulations.
39A(2) Limit on the application of amount of credit provided under a
39A(3) Limit on the application of amount of credit provided under a
Debtor not liable to repay prohibited credit amount.
39B Limit on amount that may be recovered if there is default under
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.71
39B(1) Limit on amount that may be recovered if there is default under
Maximum amount recoverable in case of default
39B(2) Limit on amount that may be recovered if there is default under
Limitation on amount that may be recovered if there is default under the small amount credit contract.
39B(3) Limit on amount that may be recovered if there is default under
No enforcement expenses are exempt from the limit.
39C Credit provider must do prescribed things if a default in
39C(1) Credit provider must do prescribed things if a default in
Credit provider must perform prescribed actions upon default in payment.
39C(2) Credit provider must do prescribed things if a default in
Credit provider must perform prescribed actions upon default.
16 At the end of subsection 111(1) of the National Credit
17 After paragraph 111(2)(f) of the National Credit Code
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.72
18 Subsection 114(1) of the National Credit Code
Insertion of term in relation to credit contracts
19 After subsection 114(1) of the National Credit Code
Maximum penalty for contravention of key requirement in small amount credit contract
Prohibits contravention of key requirement
Application for order in relation to small amount credit contract
Maximum penalty not exceeding sum of permitted establishment fee and monthly fees
Defines temporal interval for maximum penalty
Temporal interval from application to commencement of order
Defines recurring trace for maximum penalty
Recurring trace from application to commencement of order
Represents knowledge about key requirement in small amount credit contract
Key requirement in relation to small amount credit contract
Knowledge representation of key requirement
Validates key requirement against schema
20 Subsection 204(1) of the National Credit Code
Defines adjusted credit amount in relation to a small amount credit contract.
21 Subsection 204(1) of the National Credit Code
Definition of annual cost rate of a credit contract
22 Subsection 204(1) of the National Credit Code
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.73
22A Subsection 204(1) of the National Credit Code
Definition of medium amount credit contract
23 Subsection 204(1) of the National Credit Code
24 Subsection 204(1) of the National Credit Code
25 Subsection 204(1) of the National Credit Code
26 Subsection 204(1) of the National Credit Code
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.74
27 At the end of section 204 of the National Credit Code
Disregard certain amounts when calculating the first amount of credit under a small amount credit contract.
The first amount of credit is reduced by the fee amount.
The regulations prescribe other amounts to be disregarded.
Other amounts are also disregarded when calculating the first amount of credit.
1 Subsection 5(1) (definition of lessor)
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.75
2 Subsection 5(1) (definition of value of a credit contract,
Repeal definition of value of a credit contract
3 Subsection 5(1)
See section 199 for definition of credit contract, mortgage, guarantee or consumer lease value.
4 Paragraph 147(7)(b)
Substitute sections with new section numbers.
5 Subsection 147(7) (note 1)
6 Subsection 147(7) (note 2)
7 Subsection 199(2) (table items 2, 3, 6, 7, 9 and 12)
8 Subsection 199(2) (at the end of the table)
$40,000 or higher amount prescribed by regulations
9 Subsection 199(3)
Omit specified terms from consumer leases
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.76
10 Paragraph 200(1)(b)
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.77
11 Subsection 76(8) of the National Credit Code
12 Subsection 87(6) of the National Credit Code
13 Section 92 of the National Credit Code
Repeal section 92 of the National Credit Code.
Repeals section 92 of the National Credit Code.
14 Subsection 173(1) of the National Credit Code
14(1) Subsection 173(1) of the National Credit Code
written lease document containing required information
Obligation to provide written lease document
14(1A) Subsection 173(1) of the National Credit Code
A consumer lease may consist of one or more separate documents.
Imposes a duty on the lessor to provide separate documents.
15 After subsection 173(2) of the National Credit Code
Compliance with section requires one signed document and reference to other documents.
16 After section 173 of the National Credit Code
Insert clause after section 173 of the National Credit Code
173A Other forms of consumer lease
173A(1) Other forms of consumer lease
Authorise other ways of making a consumer lease without a written document.
173A(2) Other forms of consumer lease
17 After section 174 of the National Credit Code
Insert clause after section 174 of the National Credit Code
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.78
174A Alteration of consumer lease document
174A(1) Alteration of consumer lease document
Lessee must agree in writing to alteration of consumer lease document.
174A(2) Alteration of consumer lease document
Does not apply to alterations reducing lessee's liabilities
18 After section 175 of the National Credit Code
Insert clause after section 175 of the National Credit Code
175A Prohibited consumer lease fees or charges
Prohibited consumer lease fees or charges
175B Fees or charges in relation to third parties
175B(1) Fees or charges in relation to third parties
Lessee must pay third party amount if lessor pays another person, body or agency.
Lessee has an obligation to pay third party amount.
175B(2) Fees or charges in relation to third parties
175B(3) Fees or charges in relation to third parties
(a) when the fee or charge is paid by the lessee to the lessor, the third party amount is not ascertainable;
then the lessor must refund or credit the difference to the lessee.
(b) after the fee or charge is paid, the lessor ascertains the third party amount;
(c) the third party amount is less than the amount of the fee or charge paid;
the difference must be refunded within a reasonable time frame.
the difference must be refunded every time it occurs.
175B(4) Fees or charges in relation to third parties
Determine third party amount by considering discounts and allowances received or receivable by the lessor.
Obligation to determine third party amount
175C Statements of account
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.79
175C(1) Statements of account
Lessor must provide periodic statements of account to Lessee.
175C(2) Statements of account
Maximum period for a statement of account is 12 months.
(2) The maximum period for a statement of account is 12 months.
The maximum period for a statement of account is 12 months.
The maximum period for a statement of account is within 12 months.
175C(3) Statements of account
Lessee does not need to provide a statement of account under certain circumstances.
Lessee's obligation to provide a statement of account is waived.
Default under the consumer lease during the statement period
Lessee's obligation to provide a statement of account is waived if...
175C(4) Statements of account
Strict liability offence for subsection (1)
175D Information to be contained in statements of account
Must contain prescribed information in regulations.
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.80
Obligation to provide prescribed information.
175E Statement of amount owing and other matters
175E(1) Statement of amount owing and other matters
Provide statement of amounts owing and other matters to lessee upon request.
175E(2) Statement of amount owing and other matters
Statement must be given within a specified timeframe.
175E(3) Statement of amount owing and other matters
Statement must be given in writing if request is made in writing.
175E(4) Statement of amount owing and other matters
Must provide statement to a requesting lessee, not all joint lessees.
Must provide statement to a requesting lessee
175E(5) Statement of amount owing and other matters
No further written statement required if previously provided within 3 months.
If a statement was previously provided, then no further statement is required.
Previous statement provided within 3 months.
This provision overlaps with a time interval related to the request and response.
Request given within 3 months of previous statement.
Time overlap between request and previous statement.
This provision implies a relationship between the request and the response.
175E(6) Statement of amount owing and other matters
175F Court may order statement of account to be provided
Court may order statement of account to be provided if not done so within the required time.
May be obligated to provide statement of account.
175G Disputed accounts
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.81
175G(1) Disputed accounts
Lessor must provide written notice explaining liability to lessee.
175G(2) Disputed accounts
Lessor must provide written notice of agreed liability.
175G(3) Disputed accounts
Notice of dispute must be given to the lessor within 30 days after receiving a statement of account.
Notice of dispute must be given to lessor
Notice must be given within 30 days after receiving statement of account
Statement of account received by lessee on day X
Day X + 30 is later than day when notice must be given
Lessor must receive notice within 30 days
Notice of dispute given to lessee on day X
Day X + 30 is later than day when lessor receives notice
Lessor must respond to notice within a reasonable time after receiving it
Day X + T is later than day when lessor responds
175G(4) Disputed accounts
Notice of dispute must be given to the lessor within 3 months after lease ends.
Must provide notice of dispute within 3 months after lease ends.
175G(5) Disputed accounts
Must not begin enforcement proceedings within 30 days of written explanation or advice as to agreement.
175G(6) Disputed accounts
Court may determine disputed liability and make consequential orders.
175G(7) Disputed accounts
Lessor cannot begin enforcement proceedings without court leave.
175G(8) Disputed accounts
Offence of strict liability for subsections (5) and (7)
(8) Subsections (5) and (7) are offences of strict liability.
Establishes temporal relation between subsections (5) and (7)
Establishes recurring trace between subsections (5) and (7)
Diffuses information about subsections (5) and (7)
Represents knowledge about subsections (5) and (7)
175G(9) Disputed accounts
Does not affect disputes not dealt with under this section.
175H End of lease statement
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.82
175H(1) End of lease statement
Lessor must provide lessee with end of lease statement within 90 days before fixed term end.
175H(2) End of lease statement
Exemption from subsection (1) under certain circumstances.
175H(3) End of lease statement
Strict liability offence for non-compliance with subsection (1)
175J Changes etc. under consumer leases
Change, deferral, waiver, or postponement of an existing consumer lease is not treated as creating a new consumer lease.
Change, deferral, waiver, or postponement is made in accordance with this Code.
The change, deferral, waiver, or postponement is not to be treated as creating a new consumer lease.
Change, deferral, waiver, or postponement occurs within an existing consumer lease.
(a) there is a change to an existing consumer lease that results in further goods being provided; or (b) the change, deferral, waiver or postponement is made in accordance with this Code or the existing consumer lease;
Change, deferral, waiver, or postponement occurs repeatedly.
(iii) a postponement relating to an existing consumer lease;
Change, deferral, waiver, or postponement is recognized as part of the consumer lease.
then the change, deferral, waiver or postponement is not to be treated as creating a new consumer lease or a credit contract for the purposes of this Code.
Change, deferral, waiver, or postponement conforms to the relevant rules.
177A Changes by agreement
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.83
177A(1) Changes by agreement
Lessor must provide written notice of changes to consumer lease terms within 30 days.
177A(2) Changes by agreement
Exempts lessee from obligations for up to 90 days
177A(3) Changes by agreement
Section does not apply to a change made under Subdivision B.
177A(4) Changes by agreement
The lessee must be informed of changes to the terms and conditions.
Information about changes to the terms and conditions
The lessee has an obligation to be informed of changes.
177A(5) Changes by agreement
Offence of strict liability for subsection (1)
177B Changes on grounds of hardship
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.84
177B(1) Changes on grounds of hardship
Lessee must provide notice of inability to meet obligations under consumer lease.
177B(2) Changes on grounds of hardship
Lessor must request lessee to provide specified information within 21 days.
Lessor has an obligation to request lessee information.
177B(3) Changes on grounds of hardship
Lessee must comply with the requirement.
177B(4) Changes on grounds of hardship
Notice to lessee of change in consumer lease agreement
Notice in prescribed form with specified information
177B(5) Changes on grounds of hardship
The lessor must give notice within a specified period.
177B(6) Changes on grounds of hardship
Allow regulations to modify references in subsections (2) and (5)
177C Notice of change
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.85
177C(1) Notice of change
Lessor must provide written notice to lessee within 30 days of agreement change.
Notice must be given within 30 days after agreement date
not later than 30 days after the date of the agreement
177C(2) Notice of change
Lessor must inform lessee of changes to terms and conditions.
177C(3) Notice of change
Notice of change is an offence of strict liability.
177D Changes by court
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.86
177D(1) Changes by court
Lessee may apply to court for lease term changes if lessor does not comply with hardship notice.
Lessee has the right to apply for court intervention.
177D(2) Changes by court
177D(3) Changes by court
Court may stay enforcement proceedings under the lease until application is determined.
177E Lessor may apply for variation of change
177E(1) Lessor may apply for variation of change
Lessor may apply for variation of change
177E(2) Lessor may apply for variation of change
May apply for variation of stay or order
177E(3) Lessor may apply for variation of change
Court may vary or revoke order or stay on application
177F Court may reopen unjust transactions
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.87
177F(1) Court may reopen unjust transactions
177F(2) Court may reopen unjust transactions
Court must consider various factors when determining whether a consumer lease term is unjust.
The court is to have regard to the public interest and all the circumstances of the case.
The court MUST consider the specified factors.
Court must consider public interest and circumstances of the case.
The court MUST consider the public interest and circumstances of the case.
The court is to have regard to all the circumstances of the case.
The court MUST protect the legitimate interests of a party to the lease.
Court must ensure lessee understands transaction implications.
The lessor took measures to ensure that the lessee understood the nature and implications of the transaction.
The court MUST ensure the lessee understood the nature and implications of the transaction.
Court must consider lessor's knowledge about lessee's ability to pay.
The lessor knew, or could have ascertained by reasonable inquiry at the time, that the lessee could not pay in accordance with its terms.
The court MUST consider whether the lessor knew, or could have ascertained by reasonable inquiry at the time, that the lessee could not pay in accordance with its terms.
177F(3) Court may reopen unjust transactions
A person is taken to have represented a lessee if they assisted the lessee in negotiations.
Obligation to assist a lessee in negotiations.
The person is taken to have represented the lessee.
Assistance in negotiations implies representation of a lessee at some point.
Assistance in negotiations implies representation of a lessee repeatedly.
No permission is required for assistance in negotiations.
177F(4) Court may reopen unjust transactions
Court must consider unforeseeable circumstances when determining unjust consumer leases.
Obligation to consider unforeseeable circumstances
177F(5) Court may reopen unjust transactions
Court may consider conduct of parties in determining unjust lease relief.
Obligation to consider conduct of parties
Court may grant relief in respect of a consumer lease
Court may have regard to the conduct of the parties since it was entered into or changed
The court has regard to the conduct of the parties since it was entered into or changed
Linear temporal logic for lease duration
Court may have regard to the conduct of the parties in relation to the lease
The court has regard to the conduct of the parties in relation to the lease
Diffusion logic for unjust lease determination
Court may have regard to the conduct of the parties in determining whether to grant relief
The court has regard to the conduct of the parties in determining whether to grant relief
in respect of a consumer lease that it finds to be unjust
CogAI logic for unjust lease determination
Court may have regard to the conduct of the parties in relation to the lease since it was entered into or changed
The court has regard to the conduct of the parties in relation to the lease since it was entered into or changed
177F(6) Court may reopen unjust transactions
This section does not apply to a change to a consumer lease under this Subdivision.
177G Orders on reopening of transactions
Court may reopen a transaction and perform certain actions despite settlement or agreement.
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.89
Court can reopen a transaction and perform certain actions.
177H Applications by ASIC
177H(1) Applications by ASIC
Application under this Subdivision if in public interest
ASIC considers it is in the public interest
Make an application under this Subdivision
177H(2) Applications by ASIC
Standing to represent the public interest
177H(3) Applications by ASIC
Application may apply to any one or more consumer leases.
177J Time limit
No application can be brought more than 2 years after the relevant consumer lease ends.
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.90
Application must be brought within 2 years
177K Joinder of parties
177K(1) Joinder of parties
Court may order third party to share in profits of unjust consumer lease.
177K(2) Joinder of parties
Court must join third party and give opportunity to appear and be heard.
(2) However, before making an order about the third party...
The court MUST join the third party and give the third party an opportunity to appear and be heard.
The court's obligation is contained within the temporal interval from the commencement of proceedings to the completion of proceedings.
The court's obligation is contained within a temporal trace from the commencement of proceedings to the completion of proceedings.
The State MUST join the third party and give the third party an opportunity to appear and be heard.
19 Section 176 of the National Credit Code
Repeal section 176 of the National Credit Code.
20 Division 3 of Part 11 of the National Credit Code (heading)
on a specific date or at a specific time
21 Section 177 of the National Credit Code
22 After section 178 of the National Credit Code
178A Termination before goods have been provided
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.91
178A(1) Termination before goods have been provided
Lessee may terminate lease by written notice if goods not provided.
178A(2) Termination before goods have been provided
Lessor may retain or require payment of fees incurred before termination.
23 Section 179 of the National Credit Code (heading)
179 Termination after goods have been provided
24 After section 179 of the National Credit Code
Insert clause after section 179 of the National Credit Code
179A Statement of amount payable on termination
179A(1) Statement of amount payable on termination
Provide written statement of termination amount upon request
179A(2) Statement of amount payable on termination
Statement of amount payable on termination
179A(3) Statement of amount payable on termination
Lessor must provide a statement within 7 days after request.
179A(4) Statement of amount payable on termination
Joint lessees do not need to be informed of the statement if one requests it.
Joint lessees have an obligation to inform each other of the statement.
179A(5) Statement of amount payable on termination
179B Court may determine amount payable on termination if lessor
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.92
179B(1) Court may determine amount payable on termination if lessor
Court may determine amount payable on termination if lessor fails to provide statement.
Statement of the amount payable to terminate a consumer lease
Lessor has an obligation to provide statement.
179B(2) Court may determine amount payable on termination if lessor
Consumer lease discharge upon return of goods and payment within applicable period
Imposes duty on lessor to accept return and payment
179C One-off notice to be given the first time a direct debit default
179C(1) One-off notice to be given the first time a direct debit default
Lessee must provide notice when direct debit default occurs for the first time.
Lessee has an obligation to provide notice.
179C(2) One-off notice to be given the first time a direct debit default
179C(3) One-off notice to be given the first time a direct debit default
Notice must contain prescribed information.
179C(4) One-off notice to be given the first time a direct debit default
Offence of strict liability for subsection (2)
179C(5) One-off notice to be given the first time a direct debit default
Notice to be given in case of direct debit default
179D Requirements to be met before lessor can enforce consumer
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.93
179D(1) Requirements to be met before lessor can enforce consumer
Lessor cannot begin enforcement proceedings against lessee unless certain conditions are met.
Lessor must not begin enforcement proceedings
Temporal interval of 30 days for lessee to remedy default
Lessor must give lessee a default notice allowing at least 30 days to remedy the default
and the default has not been remedied within that period
Enforcement proceedings are contingent on lessee's ability to remedy default
Default notice requirements propagate to enforcement proceedings
Lessor must comply with this section when giving lessee a default notice
and the lessor has given the lessee a default notice, complying with this section
Lessee's default is represented as a condition for enforcement proceedings
and have not been remedied within the given period
179D(2) Requirements to be met before lessor can enforce consumer
179D(3) Requirements to be met before lessor can enforce consumer
Lessor's obligations when enforcing consumer lease
179D(4) Requirements to be met before lessor can enforce consumer
Lessor may not enforce consumer default without remediation attempt
Prohibits enforcement of consumer default without remediation attempt
Enforcement is contingent on remediation attempt
(4) If the lessor reasonably believes that a default is not capable of being remedied:
Enforcement proceedings start after 30-day notice period
(b) the lessor may begin the enforcement proceedings after the period of 30 days from the date of the notice.
Enforcement is contingent on remediation attempt and 30-day notice period
179D(5) Requirements to be met before lessor can enforce consumer
Offence of strict liability for non-compliance with subsection (1)
179E Defaults may be remedied
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.95
179E(1) Defaults may be remedied
Remedy default within specified period to reinstate lease
Lessor's obligation to take action upon default
Default notice states intention to take action
179E(2) Defaults may be remedied
Lessee does not remedy default if in default under the consumer lease
179F Effect of hardship notices on enforcement
179F(1) Effect of hardship notices on enforcement
Lessor must give default notice under section 179D before beginning enforcement proceedings if lessee gives hardship notice under section 177B.
Lessor must give default notice under section 179D before beginning enforcement proceedings.
179F(2) Effect of hardship notices on enforcement
Lessor must not begin enforcement proceedings without notice and 14-day waiting period.
Lessor must give lessee notice and waiting period
179F(3) Effect of hardship notices on enforcement
Lessor may not refuse to take possession of goods if lessor reasonably believes lessee has removed or disposed of the goods or urgent action is necessary to protect the goods.
Prohibition of refusal to take possession
Lessor may not refuse to take possession
179F(4) Effect of hardship notices on enforcement
Strict liability offence for non-compliance with hardship notices.
Prohibits non-compliance with hardship notices.
Imposes obligation to comply with hardship notices.
There is an obligation to comply with hardship notices.
Non-compliance with hardship notices overlaps with the temporal interval of the offence.
The temporal interval of the offence overlaps with non-compliance with hardship notices.
Non-compliance with hardship notices repeats in the context of the offence.
Imposes obligation to report non-compliance with hardship notices.
There is an obligation to report non-compliance with hardship notices.
179G Requirements to be met before lessor can enforce an
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.96
179G(1) Requirements to be met before lessor can enforce an
Acceleration clause can only operate if lessee is in default, lessor has given notice, and default cannot be remedied.
Acceleration clause can only operate under specific conditions.
(a) the lessee is in default under the lease; and (b) the lessor has given to the lessee a default notice under section 179D;
(1) An acceleration clause of a consumer lease is to operate only if:...
The text specifies a time period during which the default must be remedied.
(d) the default has not been remedied within the period specified in the default notice (unless the lessor reasonably believes that the default is not capable of being remedied).
...(unless the lessor reasonably believes that the default is not capable of being remedied).
The text specifies a condition for the operation of an acceleration clause.
...and (c) the default notice contains an additional statement of:...
(i) the manner in which the liabilities of the lessee under the consumer lease would be affected by the operation of the acceleration clause; and (ii) the amount required to terminate the lease (as accelerated);
179G(2) Requirements to be met before lessor can enforce an
Lessor is not required to give a default notice under section 179D or wait until the period specified in the default notice has elapsed before bringing an acceleration clause into operation.
Lessor is not required to give a default notice
179H Postponement of exercise of rights
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.97
179H(1) Postponement of exercise of rights
Request for postponement of enforcement proceedings, actions under proceedings, or acceleration clause operation.
179H(2) Postponement of exercise of rights
Lessor must provide written notice within 21 days of receiving postponement request.
179H(3) Postponement of exercise of rights
Lessor cannot begin enforcement proceedings unless notice is given and 14-day period has expired.
Unless notice is given and 14-day period has expired.
Temporal relation between postponement request and enforcement proceedings
Enforcement proceedings must not begin during the 14-day period after notice is given.
Enforcement proceedings must not begin until the 14-day period after notice is given has ended.
Permit for enforcement proceedings to begin
Enforcement proceedings can begin if notice is given and the 14-day period has expired.
179H(4) Postponement of exercise of rights
Lessor's right to take possession of goods under certain circumstances
The lessor may take possession of goods...
179H(5) Postponement of exercise of rights
Offence of strict liability for subsections (2) and (3)
179J Effect of negotiated postponement
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.98
179J(1) Effect of negotiated postponement
Default notice not considered given if postponement negotiated.
179J(2) Effect of negotiated postponement
Lessor must provide written notice of postponement conditions within 30 days.
179J(3) Effect of negotiated postponement
179J(4) Effect of negotiated postponement
No notice required for lessor under subsection (2) if notice given under section 177A
Lessor exempt from subsection (2) notice requirement if notice given under section 177A
(4) A lessor that is required to give notice under section 177A...
...is not required to comply with subsection (2).
Notice given under section 177A relates to postponement
Lessor has permission to waive subsection (2) notice requirement if notice given under section 177A
179J(5) Effect of negotiated postponement
Lessor must provide default notice if conditions are not complied with.
Lessor has an obligation to provide default notice.
179K Postponement by court
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.99
179K(1) Postponement by court
Lessee may apply to court for postponement if unable to negotiate.
Lessee has the right to apply for postponement.
179K(2) Postponement by court
Court may order postponement after hearing.
179K(3) Postponement by court
Court may stay enforcement proceedings under consumer lease until application is determined.
179L Lessor may apply for variation of postponement order
179L(1) Lessor may apply for variation of postponement order
Lessor may apply for variation of postponement order
179L(2) Lessor may apply for variation of postponement order
Court may vary, refuse to vary, or revoke postponement order on application.
Court obligation to vary, refuse, or revoke order.
179M Information as to location of goods hired under a consumer
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.100
179M(1) Information as to location of goods hired under a consumer
Lessee must inform lessor of goods location within 7 days.
Information about goods location and possession status
179M(2) Information as to location of goods hired under a consumer
Lessee commits an offence for contravening a notice under this section.
Prohibits lessee from contravening a notice under this section.
179M(3) Information as to location of goods hired under a consumer
Offence of strict liability for non-compliance with subsection (2)
(3) Subsection (2) is an offence of strict liability.
179N Entry to residential property to take possession of goods
179N(1) Entry to residential property to take possession of goods
Entry to residential property without consent is prohibited.
(1) A lessor, or an agent of a lessor, must not...
(b) the occupier of the premises has, after being informed in writing...
must not enter any part of premises used for residential purposes unless...
must enter any part of premises used for residential purposes if the occupier has given written consent
179N(2) Entry to residential property to take possession of goods
Consent for entry to residential property
179N(3) Entry to residential property to take possession of goods
Entering premises in contravention of this section is prohibited for the lessor.
Prohibition of entering premises in contravention of the section.
(3) If premises are entered in contravention of this section by a lessor...
Temporal interval between entering premises and committing an offence.
The temporal interval is [entry, offence].
Recurring trace of entering premises and committing an offence.
The recurring trace is [entry, offence].
Classification of the entry as prohibited for the lessor.
The entry is classified as prohibited for the lessor.
179N(4) Entry to residential property to take possession of goods
Offence of strict liability for entry to residential property
179P Court may order entry
Court may order entry for taking possession of goods
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.101
179Q Order for possession
179Q(1) Order for possession
179Q(2) Order for possession
Court may vary delivery place, time or period.
179Q(3) Order for possession
Committing an offence under this section is prohibited.
(3) A person who contravenes an order under this section commits an offence. Criminal penalty: 30 penalty units.
A person who contravenes an order under this section commits an offence.
Prohibits committing an offence under this section.
A person who contravenes an order under this section is prohibited from committing an offence.
Implies that the action is prohibited if the condition is met.
If a person contravenes an order under this section, they commit an offence.
179Q(4) Order for possession
Offence of strict liability for subsection (3)
(4) Subsection (3) is an offence of strict liability.
179R Recovery of enforcement expenses
179R(1) Recovery of enforcement expenses
Lessor cannot recover enforcement expenses exceeding those reasonably incurred.
Lessor must recover enforcement expenses.
Lessor cannot recover enforcement expenses.
Recovery is limited to enforcement expenses reasonably incurred during the lease.
Recovery is limited to a specific temporal interval.
179R(2) Recovery of enforcement expenses
Prohibits consumer lease provisions from conferring greater rights than specified.
179R(3) Recovery of enforcement expenses
Court determines amount of enforcement expenses liability
179S Linked lessors and tied consumer leases
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.102
179S(1) Linked lessors and tied consumer leases
The supplier has a contract, arrangement or understanding with the lessor
179S(2) Linked lessors and tied consumer leases
(2) A tied consumer lease is a consumer lease entered into between a lessor and a lessee...
A tied consumer lease is defined as a consumer lease entered into between a lessor and a lessee...
Temporal relationship between tied consumer lease and supplier's linked status
(2) A tied consumer lease is entered into between a lessor and a lessee where: (a) the lessee enters into the lease to hire goods supplied by the supplier to the lessor; and (b) at the time the lease is entered into the lessor is a linked lessor of the supplier.
The tied consumer lease is entered into during the supplier's linked status
(2) A tied consumer lease is a consumer lease entered into between a lessor and a lessee where: (a) the lessee enters into the lease to hire goods supplied by the supplier to the lessor; and (b) at the time the lease is entered into the lessor is a linked lessor of the supplier.
A tied consumer lease is defined as a consumer lease entered into between a lessor and a lessee where: (a) the lessee enters into the lease to hire goods supplied by the supplier to the lessor; and (b) at the time the lease is entered into the lessor is a linked lessor of the supplier.
179T Lessor liable for supplier’s misrepresentations about hired
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.103
179T(1) Lessor liable for supplier’s misrepresentations about hired
Lessor liable for supplier's misrepresentations about hired goods or services.
Obligation to provide accurate information
179T(2) Lessor liable for supplier’s misrepresentations about hired
Lessor entitled to indemnification from person making misrepresentation
Lessor has an obligation to be indemnified
Person making misrepresentation must provide indemnification
Person making misrepresentation has permission to make a representation
Person making misrepresentation is allowed to make a statement
179U False or misleading representations
179U(1) False or misleading representations
Making false or misleading representations in consumer leases is prohibited.
Prohibits making false or misleading representations.
Material to entry into a consumer lease or related transaction.
179U(2) False or misleading representations
Defence to prosecution for false or misleading representations if reasonable belief
Obligation to not make false or misleading representations
Not making false or misleading representations
Person charged reasonably believed the representation was not false or misleading
The person charged had a reasonable belief
The defence applies if the representation was not false or misleading at the time of prosecution
Reasonable belief is inferred from the person charged's actions
Person charged took action based on their reasonable belief
179U(3) False or misleading representations
Person who suffers loss may recover from contravention
179V Harassment
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.104
Temporal relation between harassment and attempt
Attempt must be completed before harassment starts
179W Application of certain Code provisions to consumer leases
179W(1) Application of certain Code provisions to consumer leases
Applicability of certain Code provisions to consumer leases
179W(2) Application of certain Code provisions to consumer leases
Application of certain Code provisions to consumer leases
25 Subsection 204(1) of the National Credit Code (definition
Definition of acceleration clause in credit contracts and consumer leases.
in relation to a credit contract or mortgage—a term of a credit contract or mortgage providing...
Definition of Bulk Electronic Clearing System
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.105
27 Subsection 204(1) of the National Credit Code
28 Subsection 204(1) of the National Credit Code (definition
Repeal definition of default notice and substitute with new definitions.
29 Subsection 204(1) of the National Credit Code
Defines direct debit in relation to payment of an amount.
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.106
30 Subsection 204(1) of the National Credit Code (definition
Defines enforcement proceedings for credit contracts, consumer leases, and mortgages.
Substitutes a new definition for an existing one.
31 Subsection 204(1) of the National Credit Code
Requires insertion of hardship notice in credit contracts and consumer leases.
32 Subsection 204(1) of the National Credit Code
lessee means the lessee under a consumer lease
33 Subsection 204(1) of the National Credit Code
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.107
lessor means the lessor under a consumer lease to which Part 11 applies
34 Subsection 204(1) of the National Credit Code
35 Subsection 204(1) of the National Credit Code
Demand facility is prohibited under subsection 204(1) of the National Credit Code.
36 Subsection 204(1) of the National Credit Code
References other subsections for postponement request rules
37 Subsection 204(1) of the National Credit Code
Mandatory reference to subsection 179S(2)
38 Subsection 204(1) of the National Credit Code
Prohibition on unconscionable, harsh or oppressive lease terms
Prohibits unconscionable, harsh or oppressive lease terms
1 Schedule 4 (heading)
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.109
2 Part 1 of Schedule 4 (heading)
3 Item 1 of Schedule 4
Substitute 'In this Schedule' for 'In this Part'
4 At the end of the Act
1 Definition
2 Section 128 of the National Credit Act
Amendments apply to representations made on or after commencement
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.110
3 Section 180A of the National Credit Act
Section applies in relation to credit services provided on or after commencement of Schedule.
4 Sections 32 and 40 of the new Credit Code
Amendments apply to credit contracts entered into on or after Schedule commencement
5 Sections 72, 73, 74 and 88 of the new Credit Code
Amendments apply to credit contracts made on or after commencement of Schedule 1
6 Section 89A of the new Credit Code
Section applies in relation to credit contracts, mortgages and guarantees entered into on or after commencement of Schedule.
7 Section 94 of the new Credit Code
Amendments apply to credit contracts, mortgages, and guarantees entered into on or after commencement of Schedule.
8 Section 124 of the new Credit Code
Amendments apply to applications made on or after commencement.
9 Subsections 179(6) and (7) of the National Credit Act
Applicability of National Credit Act subsections to credit contracts entered into on or after commencement.
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.111
10 Subsection 17(15A) of the new Credit Code
Applicability of subsection 17(15A) of the new Credit Code
11 Section 18A of the new Credit Code
Section applies to entry into and changes to credit contracts on or after commencement of item.
12 Subsection 26(6) of the new Credit Code
Applicable to credit contracts entered into on or after the commencement of that item.
13 Section 33 of the new Credit Code
Amendments apply to credit contracts entered into before, on or after commencement.
14 Section 67A of the new Credit Code
Applicability of Section 67A of the new Credit Code
15 Subdivision B of Division 1 of Part 5 of the new Credit
Subdivision B of Division 1 of Part 5 of the new Credit Code applies to credit contracts and mortgages entered into on or after commencement.
Subdivision B applies to credit contracts and mortgages.
16 Subsections 88(1) and (2) of the new Credit Code
Amendment applies to credit contracts and mortgages entered into before, on or after commencement of item.
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.112
Requires temporal relation between intervals
Item commencement is before or on contract/mortgage date
17 Subsections 88(7A) and (7B) of the new Credit Code
Applicability of new Credit Code subsections to credit contracts and mortgages
18 Section 93A of the new Credit Code
Section applies in relation to credit contracts and mortgages entered into on or after commencement of item.
19 Section 185A of the new Credit Code
Section applies in relation to credit contracts entered into on or after commencement of item.
20 Paragraphs 124A(1)(b) and 133CA(1)(b) of the National
Applicability of National Credit Act provisions to short-term credit contracts
Provisions apply to contracts entered into before, on or after commencement
Provisions apply during specified time period
21 Sections 23A, 31A, 31B, 39A, 39B and 39C and subsection
Applicability of sections to small amount credit contracts
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.113
21A Section 32AA and paragraphs 111(1)(k) and (2)(fb) of the
Credit contracts entered into on or after the commencement of Schedule 4 must comply with Section 32AA and paragraphs 111(1)(k) and (2)(fb) of the new Credit Code.
Must comply with Section 32AA and paragraphs 111(1)(k) and (2)(fb)
Credit contracts entered into on or after the commencement of Schedule 4
Credit contracts entered into on or after the commencement of Schedule 4 must comply with Section 32AA and paragraphs 111(1)(k) and (2)(fb)
Commencement of Schedule 4 >= commencement of credit contract
For all credit contracts entered into on or after the commencement of Schedule 4, must comply with Section 32AA and paragraphs 111(1)(k) and (2)(fb)
x is a credit contract entered into on or after the commencement of Schedule 4
Credit contracts entered into on or after the commencement of Schedule 4 are a right to comply with Section 32AA and paragraphs 111(1)(k) and (2)(fb)
Section 32AA and paragraphs 111(1)(k) and (2)(fb) of the new Credit Code
are a right to comply with Section 32AA and paragraphs 111(1)(k) and (2)(fb)
22 Subsection 199(2) of the National Credit Act
Amendments apply to consumer leases entered into on or after Schedule commencement
23 Part 11 of the new Credit Code
Applicable amendments to consumer leases entered into on or after the commencement of Schedule 5.
1 Subsection 96(1) of Schedule 2
Omit 'consumer goods', substitute 'goods'.
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.114
2 Subsection 96(2) of Schedule 2
3 Subsection 96(3) of Schedule 2
4 Subsection 96(4) of Schedule 2
5 Subsection 97(1) of Schedule 2
6 Subsection 97(2) of Schedule 2
7 Subsection 97(3) of Schedule 2
8 Section 98 of Schedule 2
9 Subsection 103(1) of Schedule 2
Substitute goods supplied to a consumer for 'consumer goods'
10 Subsection 188(1) of Schedule 2
11 Subsection 189(1) of Schedule 2
12 Subsection 189(3) of Schedule 2
consumer-credit-legislation-amendment-enhancements-act-2012.pdf, p.115
13 Subsection 190(1) of Schedule 2
14 Paragraph 190(2)(c) of Schedule 2
15 Subsection 191(1) of Schedule 2
16 At the end of Schedule 2
Add Chapter 6—Application and transitional provisions
288 Application of amendments relating to lay-by agreements
Amendments apply to lay-by agreements entered into on or after commencement
289 Application of amendment relating to repairs
Amendment applies to notices for repairs accepted after commencement
290 Saving of regulations relating to repairs
Regulations made for subsection 103(1) of Schedule 2 to the Competition and Consumer Act 2010 continue in force.
Regulations made for subsection 103(1) of Schedule 2 to the Competition and Consumer Act 2010.
Temporal relationship between commencement of item and regulations
Item 9 of Schedule 7 to the Consumer Credit Legislation Amendment (Enhancements) Act 2012.
Recurring trace between regulations and amended subsection
Regulations that were in force immediately before the commencement of that item.
Continuation of regulations after amendment
Regulations continue in force (and may be dealt with) as if they were made for the purposes of that subsection as amended by that item.