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Consumer Credit Protection Bill (News)

The Bill provides the flexibility sought by the States to enable them to refer their powers for consumer credit regulation to the Commonwealth.

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Today, the National Consumer Credit Protection Amendment Bill 2010 was passed by the Australian Parliament.

The Bill provides the flexibility sought by the States to enable them to refer their powers for consumer credit regulation to the Commonwealth.  Following enactment of the State Referral Bills, the States will be able to repeal their state laws in time for the commencement of the National Credit legislation on 1 July 2010.  

Bill to transfer responsibility for consumer credit (News)

The bill is the result of the strong commitment by the commonwealth, state and territory governments working in a spirit of cooperation to build the COAG reform vision for a single, uniform national credit law.

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Tomorrow the Government will introduce legislation into the parliament that will give effect to the referral of responsibility for consumer credit to the Commonwealth. 

Passage of the National Consumer Credit Protection Amendment Bill is the final step for the Commonwealth in creating a single, standard, national regime for the regulation of consumer credit.  

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