Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The Governor - General may make regulations prescribing matters:
(a) required or permitted by this Act to be prescribed; or
(b) necessary or convenient to be prescribed for carrying out or giving effect to this Act.
(2) The regulations may prescribe matters of a transitional nature (including matters of an application or saving nature):
(a) arising out of the enactment of the National Credit Act; or
(b) relating to the transition from the application of provisions of the old Credit Codes, or related laws, of the referring States and the Territories to the application of provisions of the National Credit Act.
The regulations have effect despite anything else in this Act.
(3) The regulations may provide that certain provisions of this Act are taken to be modified as set out in the regulations. Those provisions then have effect as if they were so modified.
(4) Subsection 12(2) (retrospective application of legislative instruments) of the Legislation Act 2003 does not apply to regulations made under this section.
(5) If:
(a) regulations are expressed to commence on a date (the registration date ) before the regulations are registered under the Legislation Act 2003 ; and
(b) a person engaged in conduct before the registration date; and
(c) apart from the retrospective effect of the regulations, the conduct would not have contravened:
(i) this Act; or
(ii) the National Credit Act (including the new Credit Code) as it applies because of this Act;
then a court must not convict the person of an offence, or order the person to pay a pecuniary penalty, in relation to the conduct on the grounds that it contravened either of those Acts.
(6) The provisions of this Act that provide for regulations to deal with matters do not limit each other.