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National Consumer Credit Protection Act 2009

National Consumer Credit Protection Act 2009

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an Australian legislation
an Australian legislation

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Published by: LEX-57 the lex engine on May 09, 2010
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National Consumer Credit ProtectionAct 2009No. 134, 2009
An Act relating to credit, and for related purposes
 
 Note: An electronic version of this Act is available in ComLaw(http://www.comlaw.gov.au/
 
)
 
Contents
Chapter 1—Introduction................................................2
Part 1-1—Introduction...................................................................2
1 Short title22 Commencement...............................................................................23 The National Credit Code................................................................3
Part 1-2—Definitions......................................................................4
Division 1—Introduction................................................................4
4 Guide to this Part.............................................................................4
Division 2—The Dictionary............................................................5
5 The Dictionary.................................................................................5
Division 3—Definitions relating to the meaning of credit activity...................................................................................17
6 Meaning of credit activity..............................................................177 Meaning of credit service...............................................................188 Meaning of credit assistance..........................................................189 Meaning of acts as an intermediary................................................1910 Assignees of credit providers, lessors, mortgagees and beneficiaries of a guarantee....................................19
Division 4—Other definitions.......................................................21
11 Meaning of approved external dispute resolution scheme............2112 When a business is carried on in this jurisdiction.........................2113 Meaning of misleading................................................................2114 Meaning of person—generally includes a partnership.................2215 Meaning of person—generally includes multiple trustees............2216 Qualified privilege.......................................................................24
Part 1-3—Application of this Act and the Transitional Act......25
Division 1—Introduction..............................................................25
17 Guide to this Part.........................................................................25
Division 2—Constitutional basis and application of this Act andthe Transitional Act..................................................26
18 Constitutional basis for this Act and the Transitional Act.............2619 Meaning of referring State...........................................................2720 Meaning of referred credit matter................................................29
i National Consumer Credit Protection Act 2009 No. 134, 2009
 
21 General application of this Act and the Transitional Act..............3022 When Acts bind Crown................................................................31
Division 3—Interaction between the Commonwealth creditlegislation and State and Territory laws.................32
23 Concurrent operation intended.....................................................3224 When Commonwealth credit legislation does not apply..............3225 Avoiding direct inconsistency between Commonwealth and Stateand Territory laws...................................................3326 Regulations to deal with interaction between laws.......................35
Chapter 2—Licensing of persons who engage in creditactivities....................................................37
Part 2-1—Requirement to be licensed to engage in creditactivities..........................................................................37
Division 1—Introduction..............................................................37
27 Guide to this Part.........................................................................37
Division 2—Engaging in credit activities without a licence........38
28 Application of this Division.........................................................3829 Prohibition on engaging in credit activities without a licence......38
Division 3—Other prohibitions relating to the requirement to belicensed and to credit activities................................40
30 Prohibitions on holding out and advertising etc...........................4031 Prohibition on conducting business with unlicensed persons.......4132 Prohibition on charging a fee etc..................................................4133 Prohibition on giving misleading information etc........................42
Part 2-2—Australian credit licences...........................................43
Division 1—Introduction..............................................................43
34 Guide to this Part.........................................................................43
Division 2—Australian credit licences.........................................44
35 Australian credit licences.............................................................44
Division 3—How to get an Australian credit licence...................45
36 Applying for a licence..................................................................4537 When a licence may be granted—applicants other than ADIs......4538 When a licence may be granted—ADIs.......................................4739 Regulations may prescribe streamlined process for other applicants................................................................4840 Licences must not be granted to certain applicants......................48
 National Consumer Credit Protection Act 2009 No. 134, 2009 ii

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