Commonwealth Consolidated Acts

NATIONAL CONSUMER CREDIT PROTECTION (TRANSITIONAL AND CONSEQUENTIAL PROVISIONS) ACT 2009 - NOTES

No. 135, 2009

Compilation No. 17

Compilation date: 15 September 2023

Includes amendments up to: Act No. 69, 2023

Registered: 6 October 2023

About this compilation

This compilation

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 15 September 2023 (the compilation date).

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Editorial changes

For more information about any editorial changes made in this compilation, see the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law.

Self-repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

Contents

Part 1--Preliminary

1 Short title

2 Commencement

3 Schedule(s)

Part 2--Dictionary

4 Dictionary

5 Meaning of corresponds

Part 3--Other matters

6 Regulations may deal with transitional matters

7 Acquisition of property

Schedule 1--Transition from the old Credit Codes to the National Credit Act

Part 1--Introduction

Part 2--Transition from the old Credit Codes to the new Credit Code

Division 1--Object of this Part

Division 1A--Application of the new Credit Code

Division 2--Treatment of contracts or other instruments made before commencement

Division 3--Treatment of court and tribunal proceedings and orders

Division 4--General transitional provisions relating to other things done etc. under the old Credit Code

Part 3--Application of the National Credit Act (other than the new Credit Code) and Schedule 2 to this Act

Division 1--Application of the National Credit Act (other than Chapter 3 and the new Credit Code)

Division 2--Application of Chapter 3 of the National Credit Act

Division 3--Application of Schedule 2 to this Act

Part 4--Transitional provisions relating to ASIC

Schedule 2--Registration of persons to engage in credit activities

Part 1--Introduction

Part 2--Transitional prohibitions relating to credit activities

Division 1--Prohibition that applies only from commencement to 31 December 2010, or later prescribed day

Division 2--Prohibition that applies only from 1 January 2011, or later prescribed day, to the transition end day

Division 3--Application of Division 3 of Part 2-1 of the National Credit Act in relation to registered persons and this Schedule

Part 3--Registration of persons who engage in credit activities

Division 1--How to become registered

Division 2--The conditions on the registration

Division 3--Obligations of registered persons

Division 4--When registrations can be suspended, cancelled or varied

Part 4--Application of other provisions of the National Credit Act in relation to registered persons and this Schedule

Part 5--Exemptions and modifications relating to this Schedule

Part 6--Regulations relating to infringement notices

Schedule 4--Application and transitional provisions for the National Consumer Credit Protection Amendment (Home Loans and Credit Cards) Act 2011

Schedule 5--Application provisions for the Consumer Credit Legislation Amendment (Enhancements) Act 2012

Part 1--Definition

Part 2--Schedule 1 (enhancements) to the amending Act

Part 3--Schedule 2 (reverse mortgages) to the amending Act

Part 4--Schedule 3 (short-term and small amount credit contracts) to the amending Act

Part 5--Schedule 4 (caps on costs etc. for credit contracts) to the amending Act

Part 6--Schedule 5 (consumer leases) to the amending Act

Schedule 6--Application provisions for the Treasury Laws Amendment (Banking Measures No. 1) Act 2018

Part 1--Definitions

Part 2--Credit limits

Part 3--When a credit card contract, or a credit limit increase, is unsuitable

Part 4--Interest charges

Part 5--Ending credit card contracts

Schedule 7--Application and transitional provisions for the Treasury Laws Amendment (Registries Modernisation and Other Measures) Act 2020

Schedule 8--Application and transitional provisions for the Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Act 2019

Part 1--Definitions

Part 2--Application and transitional provisions

Schedule 9--Application provisions for the National Consumer Credit Protection Amendment (Mandatory Credit Reporting and Other Measures) Act 2021

Schedule 10--Application provisions for Schedule 3 to the Financial Sector Reform (Hayne Royal Commission Response--Protecting Consumers (2019 Measures)) Act 2020

Schedule 11--Application provisions for the Treasury Laws Amendment (2019 Measures No. 3) Act 2020

Schedule 12--Application provisions for Schedule 1 to the Financial Sector Reform (Hayne Royal Commission Response--Stronger Regulators (2019 Measures)) Act 2020

Schedule 13--Application and transitional provisions for Schedule 3 to the Financial Sector Reform (Hayne Royal Commission Response--Stronger Regulators (2019 Measures)) Act 2020

Schedule 14--Application and transitional provisions for Schedule 4 to the Financial Sector Reform (Hayne Royal Commission Response--Stronger Regulators (2019 Measures)) Act 2020

Schedule 15--Application provisions relating to Schedule 10 to the Financial Sector Reform (Hayne Royal Commission Response) Act 2020

Schedule 16--Application and transitional provisions relating to Schedule 11 to the Financial Sector Reform (Hayne Royal Commission Response) Act 2020

Schedule 19--Application provisions for Schedule 4 to the Financial Sector Reform Act 2022

Schedule 20--Application provisions relating to Schedule 8 to the Corporate Collective Investment Vehicle Framework and Other Measures Act 2022

Schedule 21--Transitional provisions relating to Division 18 of Part 1 of Schedule 4 to the Treasury Laws Amendment (Modernising Business Communications and Other Measures) Act 2023

Endnotes

Endnote 1--About the endnotes

Endnote 2--Abbreviation key

Endnote 3--Legislation history

Endnote 4--Amendment history

Endnotes

Endnote 1--About the endnotes

The endnotes provide information about this compilation and the compiled law.

The following endnotes are included in every compilation:

Endnote 1--About the endnotes

Endnote 2--Abbreviation key

Endnote 3--Legislation history

Endnote 4--Amendment history

Abbreviation key--Endnote 2

The abbreviation key sets out abbreviations that may be used in the endnotes.

Legislation history and amendment history--Endnotes 3 and 4

Amending laws are annotated in the legislation history and amendment history.

The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.

The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.

Editorial changes

The Legislation Act 2003 authorises First Parliamentary Counsel to make editorial and presentational changes to a compiled law in preparing a compilation of the law for registration. The changes must not change the effect of the law. Editorial changes take effect from the compilation registration date.

If the compilation includes editorial changes, the endnotes include a brief outline of the changes in general terms. Full details of any changes can be obtained from the Office of Parliamentary Counsel.

Misdescribed amendments

A misdescribed amendment is an amendment that does not accurately describe how an amendment is to be made. If, despite the misdescription, the amendment can be given effect as intended, then the misdescribed amendment can be incorporated through an editorial change made under section  15V of the Legislation Act 2003.

If a misdescribed amendment cannot be given effect as intended, the amendment is not incorporated and "(md not incorp)" is added to the amendment history.

Endnote 2--Abbreviation key

 

ad = added or inserted	o = order(s)
am = amended	Ord = Ordinance
amdt = amendment	orig = original
c = clause(s)	par = paragraph(s)/subparagraph(s)
C[x] = Compilation No. x	/sub-subparagraph(s)
Ch = Chapter(s)	pres = present
def = definition(s)	prev = previous
Dict = Dictionary	(prev ... ) = previously
disallowed = disallowed by Parliament	Pt = Part(s)
Div = Division(s)	r = regulation(s)/rule(s)
ed = editorial change	reloc = relocated
exp = expires/expired or ceases/ceased to have	renum = renumbered
effect	rep = repealed
F = Federal Register of Legislation	rs = repealed and substituted
gaz = gazette	s = section(s)/subsection(s)
LA = Legislation Act 2003	Sch = Schedule(s)
LIA = Legislative Instruments Act 2003	Sdiv = Subdivision(s)
(md) = misdescribed amendment can be given	SLI = Select Legislative Instrument
effect	SR = Statutory Rules
(md not incorp) = misdescribed amendment	Sub-Ch = Sub-Chapter(s)
cannot be given effect	SubPt = Subpart(s)
mod = modified/modification	underlining = whole or part not
No. = Number(s)	commenced or to be commenced

Endnote 3--Legislation history

 

Act	Number and year	Assent	Commencement	Application, saving and transitional provisions
National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009	135, 2009	15 Dec 2009	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)
National Consumer Credit Protection Amendment (Home Loans and Credit Cards) Act 2011	84, 2011	25 July 2011	Sch 2: 1 July 2012 (s 2(1) item 4)	--
Consumer Credit Legislation Amendment (Enhancements) Act 2012	130, 2012	17 Sept 2012	Sch 6: 18 Sept 2012 (s 2(1) item 4A)	--
Treasury Laws Amendment (Banking Measures No. 1) Act 2018	9, 2018	5 Mar 2018	Sch 5 (item 24): 1 July 2018 (s 2(1) item 9) Sch 5 (item 25): 1 Jan 2019 (s 2(1) item 10)	--
Treasury Laws Amendment (Putting Consumers First--Establishment of the Australian Financial Complaints Authority) Act 2018	13, 2018	5 Mar 2018	s 4: 5 Mar 2018 (s 2(1) item 1) Sch 1 (items 39-41, 44, 69-72): 6 Mar 2018 (s 2(1) items 3, 5, 6)	s 4 and Sch 1 (items 44, 72)
Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Act 2019	17, 2019	12 Mar 2019	Sch 3 (item 50): 13 Mar 2019 (s 2(1) item 2)	--
Financial Sector Reform (Hayne Royal Commission Response--Protecting Consumers (2019 Measures)) Act 2020	2, 2020	17 Feb 2020	Sch 3 (item 6): 18 Feb 2020 (s 2(1) item 3)	--
Financial Sector Reform (Hayne Royal Commission Response--Stronger Regulators (2019 Measures)) Act 2020	3, 2020	17 Feb 2020	Sch 1 (item 29), Sch 3 (item 55) and Sch 4 (item 39): 18 Feb 2020 (s 2(1) item 1)	--
Treasury Laws Amendment (2019 Measures No. 3) Act 2020	64, 2020	22 June 2020	Sch 1 (items 40-46): 23 June 2020 (s 2(1) item 4)	--
Treasury Laws Amendment (Registries Modernisation and Other Measures) Act 2020	69, 2020	22 June 2020	Sch 1 (item 1414): repealed before commencing (s 2(1) item 5) Sch 1 (items 1465-1467): awaiting commencement (s 2(1) item 5)	Sch 1 (items 1465-1467) and Sch 1 (item  1468)
as amended by
Treasury Laws Amendment (2021 Measures No. 5) Act 2021	127, 2021	7 Dec 2021	Sch 3 (item 104): 22 June 2020 (s 2(1) item 8)	--
Treasury Laws Amendment (2022 Measures No. 1) Act 2022	35, 2022	9 Aug 2022	Sch 4 (items 7-9): 21 June 2022 (s 2(1) item 5) Sch 4 (item 15): 10 Aug 2022 (s 2(1) item 6)	Sch 4 (item 9)
Financial Sector Reform (Hayne Royal Commission Response) Act 2020	135, 2020	17 Dec 2020	Sch 10 (item 16) and Sch 11 (item 18): 1 Oct 2021 (s 2(1) item 11)	--
Treasury Laws Amendment (2020 Measures No. 6) Act 2020	141, 2020	17 Dec 2020	Sch 4 (item 61): 18 Dec 2020 (s 2(1) item 6)	--
Territories Legislation Amendment Act 2020	154, 2020	17 Dec 2020	Sch 2 (item 66): 18 Dec 2020 (s 2(1) item 5)	--
National Consumer Credit Protection Amendment (Mandatory Credit Reporting and Other Measures) Act 2021	5, 2021	16 Feb 2021	Sch 2 (item 22): 1 July 2022 (s 2(1) item 4)	--
Corporate Collective Investment Vehicle Framework and Other Measures Act 2022	8, 2022	22 Feb 2022	Sch 8 (item 22): 23 Feb 2022 (s 2(1) item 9) Sch 8 (item 38): 1 July 2022 (s 2(1) item 11)	--
Treasury Laws Amendment (2022 Measures No. 1) Act 2022	35, 2022	9 Aug 2022	Sch 4 (item 14): 10 Aug 2022 (s 2(1) item 6)	--
Financial Sector Reform Act 2022	87, 2022	12 Dec 2022	Sch 4 (item 78): 13 Dec 2022 (s 2(1) item 10)	--
Treasury Laws Amendment (Modernising Business Communications and Other Measures) Act 2023	69, 2023	14 Sept 2023	Sch 3 (item 39) and Sch 4 (item 93): 15 Sept 2023 (s 2(1) items 4, 5)	--

Endnote 4--Amendment history

 

Provision affected	How affected
Part 1
s 2.....................	am No 64, 2020
Part 3
s 6.....................	am No 64, 2020
Schedule 2
Part 3
Division 1
item 12..................	am No 13, 2018
Division 3
item 16..................	am No 13, 2018
Part 5
item 41..................	am No 64, 2020
Part 6
item 43..................	am No 64, 2020
Schedule 3................	rep No 64, 2020
item 1...................	rep No 64, 2020
item 2...................	rep No 64, 2020
item 3...................	rep No 64, 2020
Schedule 4
Schedule 4 heading..........	rs. No. 130, 2012
Schedule 4................	ad. No. 84, 2011
Part 1 heading.............	rep. No. 130, 2012
item 1...................	ad. No. 84, 2011
	am. No. 130, 2012
item 2...................	ad. No. 84, 2011
item 3...................	ad. No. 84, 2011
Schedule 5
Schedule 5................	ad. No. 130, 2012
Part 1
item 1...................	ad. No. 130, 2012
Part 2
item 2...................	ad. No. 130, 2012
item 3...................	ad. No. 130, 2012
item 4...................	ad. No. 130, 2012
item 5...................	ad. No. 130, 2012
item 5A..................	ad No 69, 2023
item 6...................	ad. No. 130, 2012
item 7...................	ad. No. 130, 2012
item 8...................	ad. No. 130, 2012
Part 3
item 9...................	ad. No. 130, 2012
item 10..................	ad. No. 130, 2012
item 11..................	ad. No. 130, 2012
item 12..................	ad. No. 130, 2012
item 13..................	ad. No. 130, 2012
item 14..................	ad. No. 130, 2012
item 15..................	ad. No. 130, 2012
item 16..................	ad. No. 130, 2012
item 17..................	ad. No. 130, 2012
item 18..................	ad. No. 130, 2012
item 19..................	ad. No. 130, 2012
Part 4
item 20..................	ad. No. 130, 2012
Part 5
item 21..................	ad. No. 130, 2012
item 21A.................	ad. No. 130, 2012
Part 6
item 22..................	ad. No. 130, 2012
item 23..................	ad. No. 130, 2012
Schedule 6
Schedule 6................	ad No 9, 2018
Part 1
item 1...................	ad No 9, 2018
Part 2
item 2...................	ad No 9, 2018
item 3...................	ad No 9, 2018
Part 3
Part 3...................	ad No 9, 2018
item 4...................	ad No 9, 2018
Part 4
Part 4...................	ad No 9, 2018
item 5...................	ad No 9, 2018 /span>
Part 5
Part 5...................	ad No 9, 2018
item 6...................	ad No 9, 2018
Schedule 7
Schedule 7................	ad No 35, 2022
item 1...................	ad No 35, 2022
item 2...................	ad No 35, 2022
item 3...................	ad No 35, 2022
item 4...................	ad No 35, 2022
Schedule 8
Schedule 8................	ad No 17, 2019
Part 1
item 1...................	ad No 17, 2019
Part 2
item 2...................	ad No 17, 2019
item 3...................	ad No 17, 2019
item 4...................	ad No 17, 2019
	am No 141, 2020
Schedule 9
Schedule 9................	ad No 5, 2021
item 1 (prev item 23)
item 23..................	ad No 5, 2021
	renum No 8, 2022
Schedule 10
Schedule 10...............	ad No 2, 2020
item 1...................	ad No 2, 2020
item 2...................	ad No 2, 2020
item 3...................	ad No 2, 2020
Schedule 11
Schedule 11...............	ad No 64, 2020
item 1...................	ad No 64, 2020
Schedule 12
Schedule 12...............	ad No 3, 2020
item 1...................	ad No 3, 2020
item 2...................	ad No 3, 2020
Schedule 13
Schedule 13...............	ad No 3, 2020
item 1...................	ad No 3, 2020
item 2...................	ad No 3, 2020
item 3...................	ad No 3, 2020
Schedule 14
Schedule 14...............	ad No 3, 2020
item 1...................	ad No 3, 2020
item 2...................	ad No 3, 2020
Schedule 15
Schedule 15...............	ad No 135, 2020
item 1...................	ad No 135, 2020
Schedule 16
Schedule 16...............	ad No 135, 2020
item 1...................	ad No 135, 2020
item 2...................	ad No 135, 2020
item 3...................	ad No 135, 2020
item 4...................	ad No 135, 2020
Schedule 18...............	ad No 154, 2020
	rep 8 Aug 2022 (Sch 18 item 2)
item 1...................	ad No 154, 2020
	rep 8 Aug 2022 (Sch 18 item 2)
item 2...................	ad No 154, 2020
	rep 8 Aug 2022 (Sch 18 item 2)
Schedule 19
Schedule 19...............	ad No 87, 2022
item 1...................	ad No 87, 2022
item 2...................	ad No 87, 2022
item 3...................	ad No 87, 2022
item 4...................	ad No 87, 2022
item 5...................	ad No 87, 2022
item 6...................	ad No 87, 2022
item 7...................	ad No 87, 2022
item 8...................	ad No 87, 2022
item 9...................	ad No 87, 2022
item 10..................	ad No 87, 2022
item 11..................	ad No 87, 2022
item 12..................	ad No 87, 2022
item 13..................	ad No 87, 2022
Schedule 20
Schedule 20...............	ad No 8, 2022
item 1...................	ad No 8, 2022
item 2...................	ad No 8, 2022
item 3...................	ad No 8, 2022
Schedule 21
Schedule 21...............	ad No 69, 2023
item 1...................	ad No 69, 2023