Source: https://www.legislation.gov.au/Details/C2019C00108
Timestamp: 2020-05-28 18:49:18
Document Index: 668295094

Matched Legal Cases: ['art 4', 'art 2', 'art 2', 'art 3', 'art 4', 'art 5', 'art 6', 'art 1', 'art 2', 'art 3', 'art 4', 'art 5', 'art 6', 'art 1', 'art 2', 'art 3', 'art 4', 'art 5', 'art 1', 'art 2', 'art 2', 'art 3', 'art 1', 'art 4', 'art 3', 'art 3', 'art 3', 'art 3', 'art 3', 'art 3', 'art 5', 'art 3', 'art 3', 'art 4', 'art 4', 'art 3', 'art 4', 'art 4']

Details: C2019C00108
- C2019C00108
Act No. 135 of 2009 as amended, taking into account amendments up to Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Act 2019
Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Act 2019 - C2019A00017
sch 3 (item 50)
C2019C00108
Includes amendments up to: Act No. 17, 2019
This is a compilation of the National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 that shows the text of the law as amended and in force on 13 March 2019 (the compilation date).
Division 1—Application of the National Credit Act (other than Chapter 3 and the new Credit Code) 27
Division 2—Application of Chapter 3 of the National Credit Act 28
Division 3—Application of Schedule 2 to this Act 29
Part 4—Transitional provisions relating to ASIC 30
Schedule 2—Registration of persons to engage in credit activities 32
Part 2—Transitional prohibitions relating to credit activities 34
Division 1—Prohibition that applies only from commencement to 31 December 2010, or later prescribed day 34
Division 2—Prohibition that applies only from 1 January 2011, or later prescribed day, to the transition end day 35
Division 3—Application of Division 3 of Part 2‑1 of the National Credit Act in relation to registered persons and this Schedule 37
Part 3—Registration of persons who engage in credit activities 39
Division 1—How to become registered 39
Division 2—The conditions on the registration 42
Division 3—Obligations of registered persons 44
Division 4—When registrations can be suspended, cancelled or varied 49
Part 4—Application of other provisions of the National Credit Act in relation to registered persons and this Schedule 56
Part 5—Exemptions and modifications relating to this Schedule 62
Part 6—Regulations relating to infringement notices 65
Schedule 3—Consequential amendments 66
Australian Securities and Investments Commission Act 2001 66
Corporations Act 2001 66
Schedule 4—Application and transitional provisions for the National Consumer Credit Protection Amendment (Home Loans and Credit Cards) Act 2011 67
Schedule 5—Application provisions for the Consumer Credit Legislation Amendment (Enhancements) Act 2012 69
Part 1—Definition 69
Part 2—Schedule 1 (enhancements) to the amending Act 70
Part 3—Schedule 2 (reverse mortgages) to the amending Act 72
Part 4—Schedule 3 (short‑term and small amount credit contracts) to the amending Act 74
Part 5—Schedule 4 (caps on costs etc. for credit contracts) to the amending Act 75
Part 6—Schedule 5 (consumer leases) to the amending Act 76
Schedule 6—Application provisions for the Treasury Laws Amendment (Banking Measures No. 1) Act 2018 77
Part 1—Definitions 77
Part 2—Credit limits 78
Part 3—When a credit card contract, or a credit limit increase, is unsuitable 79
Part 4—Interest charges 80
Part 5—Ending credit card contracts 81
Schedule 8—Application and transitional provisions for the Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Act 2019 82
Part 1—Definitions 82
Part 2—Application and transitional provisions 83
3 Application of sections 133BF, 133BFA, 133BFB and 133BFC of the National Credit Act
(1) Sections 133BF, 133BFA, 133BFB and 133BFC of the National Credit Act, as inserted by Division 2 of Part 2 of Schedule 5 to the amending Act, apply to credit card contracts entered into on or after the commencement of that Division.
(2) The sections, apart from subsections 133BF(1) and (2), also apply to credit card contracts entered into before the commencement of that Division.
Part 3—When a credit card contract, or a credit limit increase, is unsuitable
4 Application of provisions about unsuitability of credit card contracts or increases in the credit limit of a credit card contract
The amendments of sections 118, 119, 123, 124, 131 and 133 of the National Credit Act made by Part 1 of Schedule 5 to the amending Act apply:
(a) so far as the sections apply in relation to entering a credit card contract—to credit card contracts entered into on or after the commencement of that Part; and
(b) so far as the sections apply in relation to remaining in a credit card contract, or increasing the credit limit of a credit card contract:
(i) to credit card contracts entered into on or after the commencement of that Part; and
(ii) to credit card contracts entered into before the commencement of that Part.
Part 4—Interest charges
5 Application of Division 7 of Part 3‑2B of the National Credit Act
(1) Division 7 of Part 3‑2B of the National Credit Act, as inserted by Part 3 of Schedule 5 to the amending Act, applies to credit card contracts entered into on or after the commencement of Part 3 of that Schedule.
(2) The Division also applies to credit card contracts entered into before the commencement of Part 3 of that Schedule.
(3) However, the Division does not apply in relation to use of a credit card before the commencement of Part 3 of that Schedule.
Part 5—Ending credit card contracts
6 Application of Division 8 of Part 3‑2B of the National Credit Act
(1) Division 8 of Part 3‑2B of the National Credit Act, as inserted by Part 4 of Schedule 5 to the amending Act, applies to credit card contracts entered into on or after the commencement of Part 4 of that Schedule.
(2) Division 8 of Part 3‑2B of the National Credit Act, apart from subsections 133BT(1) and (2), inserted by Part 4 of Schedule 5 to the amending Act, also applies to credit card contracts entered into before the commencement of Part 4 of that Schedule.
Schedule 8—Application and transitional provisions for the Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Act 2019
amending Act means the Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Act 2019.
commencement day means the day on which Schedule 3 to the Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Act 2019 commences.
2 Application—offences
Subject to this Part, the amendments made by Schedule 3 to the amending Act apply in relation to the commission of an offence if the conduct constituting the commission of the offence occurs wholly on or after the commencement day.
3 Application—civil penalties
Subject to this Part, the amendments made by Schedule 3 to the amending Act apply in relation to the contravention of a civil penalty provision if the conduct constituting the contravention of the provision occurs wholly on or after the commencement day.
4 Application—infringement notices
(1) An infringement notice may be given on or after the commencement day under section 288J of the Act, as inserted by item 19 of Schedule 3 to the amending Act, in relation to an alleged contravention of a provision whether the alleged contravention occurred before, on or after the commencement day.
(2) Despite the repeal of section 331 of the National Consumer and Credit Protection Act 2009 by item 21 of Schedule 3 to the amending Act, and regulations made under that section, the Act continues to apply in relation to notices given under those regulations before the commencement day as if that section and regulations had not been repealed.
Sch 1 (items 1–21, 23), Sch 2 and 3: 1 Apr 2010 (s 2(1) items 2, 2B, 3, 4)
Remainder: 15 Dec 2009 (s 2(1) items 1, 2A)
Sch 3 (item 50): 13 Mar 2019 (s 2(1) item 2)
ad No 17, 2019