Website User Guide

The AICM Legislation web page is designed to assist you to access information about current legislative issues.

For help accessing these resources you can either:

> Visit the webpage > Download PDF Version

 
 

See below the current events...
 
 

AICM's National Conference

New Horizons for Credit Managament

See you 12th-14th October 2011

Hilton on Park, Melbourne
 
 
National Consumer Credit Protection Package
About the National Consumer Credit Protection Package

Visit the link for: Australian Government, Consumer Credit: The NCCP Reform Package.

Application

  • Introduces the concept of responsible lending to be applied to all transactions.
  • Credit providers will need to be licensed and to have both internal and external dispute resolution procedures and processes.
  • Mandatory training at a minimum Cert IV is specified in Regulatory Guide 206.
  • Some transitional arrangements for mercantile agents and point of sale retailers have yet to be resolved.
  • The Uniform Consumer Credit Code is replaced with a National Credit Code.

Scope
All consumer credit.

Status
Received Royal assent.
Regulations and Regulatory guide available from ASIC

Effective
The new National Credit Code replaced the Uniform Consumer Code on 1 July 2011.
Transitional period will apply to some aspects.

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Breaking News
The legislation has reforms regarding this new ...
 
National Consumer Credit Protection Act 2009 (Cth) and Regulations

 

This legislation progressively came into operation on 1 July 2010 and 1 January 2011.

 

This link will take you to the Act.

If you are unfamilair with searching legislation this downloadable pdf will guide you through the steps involved.

 

This link  will take you to the Regulations arising from the National Consumer Credit Protection Act 2009 (Cth).
 
ASIC Regulatory Guides

 

The introduction of the National Consumer Credit Protection Act 2009 (Cth) has been a complex exercise.  To assist both credit providers and consumers ASIC have issued a number of Regulatory Guides, Information Sheets and so on.

This link will take to the ASIC page where you can download any documents that may be relevant to your work.

 
 
 

 

National Consumer Credit Dispute Resolution Requirements

If you anticipate that you will need to hold an Australian Credit License you will be obliged to have both Internal Dispute Resolution (IDR) mechanisms in place as well as belonging to an ASIC approved External Dispute Resolution Scheme.

ASIC has released Regulatory Guide (RG) 165 Licensing: Internal and external dispute resolution.

Read more...

Further details: ASIC RG165


 
 

 
 
 

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