Document ID: chunk:federal_register_of_legislation:C2022A00035:clause:7_3
Version: federal_register_of_legislation:C2022A00035
Segment Type: clause
Provision Reference: sch 7 cl 3
Character Range: 43152–44730

3  Application of amendments
(1) An amendment of a provision of the National Credit Act that is made by an amending item applies, in relation to a matter (the relevant matter), on and after the earliest of the following days:
 (a) if the amending item is covered by a notifiable instrument in force under paragraph (2)(a) of this item—the day the instrument specifies for the item;
 (b) if the amending item is covered by a notifiable instrument in force under paragraph (2)(b) of this item that specifies matters for the item that include the relevant matter—the day the instrument specifies for the item in relation to those matters;
 (c) 1 July 2026.
Note: The provision, as in force immediately before the commencement day for the amending item, will continue to apply in relation to the relevant matter until the day that applies under this subitem.
(2) The Minister:
 (a) may by notifiable instrument specify days for amending items for the purposes of paragraph (1)(a); and
 (b) may by notifiable instrument specify days and matters for amending items for the purposes of paragraph (1)(b).
Note: For specification by class, see subsection 13(3) of the Legislation Act 2003.
(3) A day specified for an amending item in a notifiable instrument made under subitem (2) must be:
 (a) on or after the day that the instrument is made; and
 (b) on or after the commencement day for the amending item.
(4) Without limiting subsection 13(3) of the Legislation Act 2003, an instrument made under subitem (2) of this item may specify all amending items as a class of amending items.