{"id":"nsw:act-2010-006","name":"Credit (Commonwealth Powers) Act 2010","slug":"credit-commonwealth-powers-act-2010","collection":"act","jurisdiction":"nsw","status":"in_force","isInForce":true,"actNumber":"6 of 2010","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":75600,"registerId":"nsw-act-2010-006-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Name of Act","content":"#### 1 Name of Act\n\n1 Name of Act\n\n> This Act is the [Credit (Commonwealth Powers) Act 2010](/view/html/inforce/current/act-2010-006).","sortOrder":0},{"sectionNumber":"2","sectionType":"section","heading":"Commencement","content":"#### 2 Commencement\n\n2 Commencement\n\n> This Act commences on a day or days to be appointed by proclamation.","sortOrder":1},{"sectionNumber":"3","sectionType":"section","heading":"Definitions","content":"#### 3 Definitions\n\n3 Definitions\n\n> > (1) In this Act—\n> > \n> > adoption means the adoption under section 4 (1).\n> > \n> > amendment reference means the reference under section 6 (1).\n> > \n> > Commonwealth Credit instrument means any instrument (whether or not of a legislative character) that is made or issued under the National Credit legislation.\n> > \n> > express amendment of the National Credit legislation means the direct amendment of the text of the National Credit legislation (whether by the insertion, omission, repeal, substitution or relocation of words or matter) by another Commonwealth Act or by an instrument under a Commonwealth Act, but does not include the enactment by a Commonwealth Act of a provision that has or will have substantive effect otherwise than as part of the text of the National Credit legislation.\n> > \n> > National Credit legislation means—\n> > \n> > > (a) the [National Consumer Credit Protection Act 2009](http://www.legislation.gov.au/) of the Commonwealth, and\n> > \n> > > (b) the [National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009](http://www.legislation.gov.au/) of the Commonwealth,\n> > \n> > and as in force from time to time.\n> > \n> > referred credit matter means a matter relating to either of the following—\n> > \n> > > (a) credit, being credit the provision of which would be covered by the expression “provision of credit to which this Code applies” in the relevant version of the National Credit Code,\n> > \n> > > (b) consumer leases, being consumer leases each of which would be covered by the expression “consumer lease to which Part 11 applies” in the relevant version of the National Credit Code.\n> > \n> > relevant version of the National Credit Code means the text of Schedule 1 to the [National Consumer Credit Protection Act 2009](http://www.legislation.gov.au/) of the Commonwealth as originally enacted, and as later amended by the [National Consumer Credit Protection Amendment Act 2010](http://www.legislation.gov.au/) of the Commonwealth.\n> > \n> > relevant version of the National Credit legislation means—\n> > \n> > > (a) the [National Consumer Credit Protection Act 2009](http://www.legislation.gov.au/) of the Commonwealth as originally enacted, and as later amended by the [National Consumer Credit Protection Amendment Act 2010](http://www.legislation.gov.au/) of the Commonwealth, and\n> > \n> > > (b) the [National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009](http://www.legislation.gov.au/) of the Commonwealth.\n> \n> > (2) Notes included in this Act do not form part of this Act.","sortOrder":2},{"sectionNumber":"4","sectionType":"section","heading":"Adoption of existing legislation","content":"#### 4 Adoption of existing legislation\n\n4 Adoption of existing legislation\n\n> > (1) The relevant version of the National Credit legislation is adopted within the meaning of section 51 (xxxvii) of the [Commonwealth Constitution](http://www.legislation.gov.au/).\n> \n> > (2) The adoption has effect for a period—\n> > \n> > > (a) beginning when this section commences, and\n> > \n> > > (b) ending at the end of the day fixed under section 5 as the day on which the adoption is to terminate,\n> > \n> > but no longer.","sortOrder":3},{"sectionNumber":"5","sectionType":"section","heading":"Termination of adoption","content":"#### 5 Termination of adoption\n\n5 Termination of adoption\n\n> > (1) The Governor may, at any time, by proclamation published on the NSW legislation website, fix a day as the day on which the adoption is to terminate.\n> \n> > (2) The Governor may, by proclamation published on the NSW legislation website, revoke a proclamation published under subsection (1), in which case the revoked proclamation is taken (for the purposes of section 4) never to have been published.\n> \n> > (3) A revoking proclamation has effect only if published before the day fixed under subsection (1).\n> \n> > (4) The revocation of a proclamation published under subsection (1) does not prevent publication of a further proclamation under that subsection.","sortOrder":4},{"sectionNumber":"6","sectionType":"section","heading":"Reference of matters","content":"#### 6 Reference of matters\n\n6 Reference of matters\n\n> > (1) Subject to section 7, any referred credit matter is referred to the Parliament of the Commonwealth, but only to the extent of the making of laws with respect to such a matter by making express amendments of the National Credit legislation.\n> \n> > (2) The reference of a matter under subsection (1) has effect only—\n> > \n> > > (a) if and to the extent that the matter is not included in the legislative powers of the Parliament of the Commonwealth (otherwise than by a reference under section 51 (xxxvii) of the [Commonwealth Constitution](http://www.legislation.gov.au/)), and\n> > \n> > > (b) if and to the extent that the matter is included in the legislative powers of the Parliament of the State.\n> \n> > (3) Despite any other provision, the reference has effect for a period—\n> > \n> > > (a) beginning when this section commences, and\n> > \n> > > (b) ending at the end of the day fixed under section 8 as the day on which the reference is to terminate,\n> > \n> > but no longer.","sortOrder":5},{"sectionNumber":"7","sectionType":"section","heading":"Matters excluded from reference","content":"#### 7 Matters excluded from reference\n\n7 Matters excluded from reference\n\n> > (1) A matter referred by section 6 (1) does not include—\n> > \n> > > (a) the matter of making provision with respect to the imposition or payment of State taxes, duties, charges or other imposts, however described, or\n> > \n> > > (b) the matter of making provision with respect to the general system for the recording of estates or interests in land and related information, or\n> > \n> > > (c) the matter of providing for the priority of interests in real property, or\n> > \n> > > (d) the matter of making a law that excludes or limits the operation of a State law, to the extent that the State law makes provision with respect to the creation, holding, transfer, assignment, disposal or forfeiture of a State statutory right.\n> \n> > (2) In this section—\n> > \n> > forfeiture means confiscation, seizure, extinguishment, cancellation, suspension or any other forfeiture.\n> > \n> > State law means—\n> > \n> > > (a) any Act of the State or any instrument made under such an Act, whenever enacted or made and as in force from time to time, or\n> > \n> > > (b) the general law, being the principles and rules of common law and equity to the extent that they have effect in the State from time to time.\n> > \n> > State statutory right means a right, entitlement or authority that is granted by or under any Act of the State or any instrument made under such an Act, whenever enacted or made and as in force from time to time, other than a right, entitlement or authority that relates to—\n> > \n> > > (a) credit covered by paragraph (a) of the definition of referred credit matter in section 3, or\n> > \n> > > (b) a consumer lease covered by paragraph (b) of that definition.","sortOrder":6},{"sectionNumber":"8","sectionType":"section","heading":"Termination of reference","content":"#### 8 Termination of reference\n\n8 Termination of reference\n\n> > (1) The Governor may, at any time, by proclamation published on the NSW legislation website, fix a day as the day on which the amendment reference is to terminate.\n> \n> > (2) The Governor may, by proclamation published on the NSW legislation website, revoke a proclamation published under subsection (1), in which case the revoked proclamation is taken (for the purposes of section 6) never to have been published.\n> \n> > (3) A revoking proclamation has effect only if published before the day fixed under subsection (1).\n> \n> > (4) The revocation of a proclamation published under subsection (1) does not prevent publication of a further proclamation under that subsection.","sortOrder":7},{"sectionNumber":"9","sectionType":"section","heading":"Amendment of Commonwealth law","content":"#### 9 Amendment of Commonwealth law\n\n9 Amendment of Commonwealth law\n\n> For the avoidance of doubt, it is the intention of the Parliament of the State that—\n> \n> > (a) the National Credit legislation may be expressly amended, or have its operation otherwise affected, at any time after the commencement of this section by provisions of Commonwealth Acts the operation of which is based on any legislative powers that the Parliament of the Commonwealth has on account of a reference of any matters, or the adoption of the relevant version of the National Credit legislation, under section 51 (xxxvii) of the [Commonwealth Constitution](http://www.legislation.gov.au/), and\n> \n> > (b) the National Credit legislation may be expressly amended, or have its operation otherwise affected, at any time after the commencement of this section by provisions of Commonwealth Acts the operation of which is based on any legislative powers that the Parliament of the Commonwealth has apart from a reference of any matters, or the adoption of the relevant version of the National Credit legislation, under section 51 (xxxvii) of the [Commonwealth Constitution](http://www.legislation.gov.au/), and\n> \n> > (c) the National Credit legislation may have its operation affected, otherwise than by express amendment, at any time by provisions of Commonwealth Credit instruments.","sortOrder":8},{"sectionNumber":"10","sectionType":"section","heading":"Effect of termination of amendment reference before termination of adoption of Commonwealth Acts","content":"#### 10 Effect of termination of amendment reference before termination of adoption of Commonwealth Acts\n\n10 Effect of termination of amendment reference before termination of adoption of Commonwealth Acts\n\n> > (1) If the amendment reference is terminated but the adoption of the relevant version of the National Credit legislation is not terminated, the termination of the amendment reference does not affect—\n> > \n> > > (a) laws that were made under the amendment reference (but not repealed) before that termination (whether or not they have come into operation before that termination), or\n> > \n> > > (b) the continued operation in this State of the National Credit legislation as in operation immediately before that termination or as subsequently amended or affected by—\n> > > \n> > > > (i) laws referred to in paragraph (a) that come into operation after that termination, or\n> > > \n> > > > (ii) provisions referred to in section 9 (b) or (c).\n> \n> > (2) Accordingly, the amendment reference continues to have effect for the purposes of subsection (1) unless the adoption is terminated.\n> \n> > (3) Subsection (1) does not apply to or in relation to an amendment of the National Credit legislation that is excluded from the operation of this section by the proclamation that terminates the amendment reference.\n> \n> > (4) For the purposes of subsection (1)—\n> > \n> > > (a) the laws referred to in subsection (1) (a) include Commonwealth Credit instruments, and\n> > \n> > > (b) the reference in subsection (1) (b) to the National Credit legislation as in operation immediately before the termination of the amendment reference includes that legislation as affected by Commonwealth Credit instruments that have come into operation before that time.","sortOrder":9},{"sectionNumber":"Schedule 1","sectionType":"schedule","heading":null,"content":"# Schedule 1\n\nSchedules 1, 2 (Repealed)","sortOrder":10},{"sectionNumber":"Schedule 3","sectionType":"schedule","heading":"Savings, transitional and other provisions","content":"# Schedule 3 Savings, transitional and other provisions\n\nSchedule 3 Savings, transitional and other provisions\n\n**sch 3:** Am 2010 No 6, Sch 3; 2011 No 16, Sch 1 \\[1\\]–\\[4\\]; 2013 No 95, Sch 4.12; 2013 No 111, Sch 3.9; 2014 No 88, Sch 2.13; 2022 No 59, Sch 2.10\\[1\\] \\[2\\], Sch 3.17.","sortOrder":11},{"sectionNumber":"Part 1","sectionType":"part","heading":"General","content":"# Part 1 General\n\nPart 1 General","sortOrder":12},{"sectionNumber":"Part 2","sectionType":"part","heading":"Provisions consequent on enactment of this Act","content":"# Part 2 Provisions consequent on enactment of this Act\n\nPart 2 Provisions consequent on enactment of this Act","sortOrder":15},{"sectionNumber":"Division 1","sectionType":"division","heading":"Financial counselling trust fund","content":"## Division 1 Financial counselling trust fund\n\nDivision 1 Financial counselling trust fund","sortOrder":16},{"sectionNumber":"Division 2","sectionType":"division","heading":null,"content":"## Division 2\n\nDivision 2\n\n4–8 (Repealed)","sortOrder":18},{"sectionNumber":"Division 3","sectionType":"division","heading":"Other provisions","content":"## Division 3 Other provisions\n\nDivision 3 Other provisions","sortOrder":19},{"sectionNumber":"11","sectionType":"section","heading":"ASIC has certain functions and powers","content":"#### 11 ASIC has certain functions and powers\n\n11 ASIC has certain functions and powers\n\n> > (1) The Minister, or a person authorised in writing by the Minister, may enter into an agreement or arrangement with ASIC for the performance of functions or the exercise of powers by ASIC as an agent of the State, even if those functions or powers are or may be conferred on another person or body by or under a law of the State.\n> \n> > (2) An agreement or arrangement of a kind referred to in subclause (1) has effect by force of this clause despite any provision of a law of the State with respect to any function or power that is the subject of the agreement or arrangement.","sortOrder":22},{"sectionNumber":"12","sectionType":"section","heading":"Pending proceedings before CTTT","content":"#### 12 Pending proceedings before CTTT\n\n12 Pending proceedings before CTTT\n\n> > (1) Any proceedings relating to any matter arising under the provisions of the former consumer credit legislation or the pre-Credit Code legislation that were commenced in the Consumer, Trader and Tenancy Tribunal before the commencement of this clause, but were not finally determined as at that commencement, may continue to be dealt with or otherwise determined (including for the purposes of any appeal or rehearing in relation to those proceedings) as if those provisions had not been repealed by Schedule 1 to this Act.\n> \n> > (2) The functions of the Consumer, Trader and Tenancy Tribunal under subclause (1) become, on and from the establishment day (within the meaning of the [Civil and Administrative Tribunal Act 2013](/view/html/inforce/current/act-2013-002)), the functions of the Civil and Administrative Tribunal.\n> \n> > (3) The provisions of subclause (2) are in addition to, and do not derogate from, the provisions of Part 2 of Schedule 1 to the [Civil and Administrative Tribunal Act 2013](/view/html/inforce/current/act-2013-002).","sortOrder":23},{"sectionNumber":"13","sectionType":"section","heading":null,"content":"#### 13\n\n13 (Repealed)","sortOrder":24},{"sectionNumber":"14","sectionType":"section","heading":"Regulation of pre-Credit Code contracts","content":"#### 14 Regulation of pre-Credit Code contracts\n\n14 Regulation of pre-Credit Code contracts\n\n> > (1) In this clause—\n> > \n> > pre-Credit Code contract means a contract to which the [Credit Act 1984](/view/html/repealed/current/act-1984-094) or the [Credit (Home Finance Contracts) Act 1984](/view/html/repealed/current/act-1984-097) applied immediately before their repeal by Schedule 1 to this Act.\n> \n> > (2) The provisions of the former consumer credit legislation and the pre-Credit Code legislation (including, without limitation, provisions relating to enforcement, any powers of investigation, including for supervisory purposes, and the taking of any proceedings or other action) continue to apply to and in respect of a pre-Credit Code contract as if those provisions had not been repealed by Schedule 1 to this Act.","sortOrder":25},{"sectionNumber":"15","sectionType":"section","heading":"Construction of references to former consumer credit legislation","content":"#### 15 Construction of references to former consumer credit legislation\n\n15 Construction of references to former consumer credit legislation\n\n> > (1) In any document—\n> > \n> > > (a) a reference to any former consumer credit legislation extends to the National Credit legislation, and\n> > \n> > > (b) a reference to a provision of any former consumer credit legislation extends to the corresponding provision (if any) of the National Credit legislation.\n> \n> > (2) In this clause, document means any Act (other than this Act) or statutory instrument, or any other instrument, or any contract or agreement.","sortOrder":26}],"analysis":{"kimi_summary":{"content_quality":"ok","complexity_score":6,"scope_assessment":{"changed":false,"description":"The legislation remains tightly focused on its original purpose: the constitutional handover of consumer credit regulation from NSW to the Commonwealth. The Schedule 3 transitional provisions were part of the original design to manage the shift from state to federal oversight, not an expansion of scope. The 2011 amendment adding maximum annual percentage rate provisions (noted in clause 2(1)(c)) was a minor adjustment within the existing framework rather than a significant scope expansion."},"complexity_factors":["Multiple interlocking mechanisms: adoption of existing legislation (section 4) operates separately from reference of future matters (section 6), with different termination provisions","Nested conditional logic in section 6(2) — the reference only works if the matter isn't already a federal power AND is a state power","Section 7 contains four specific exclusions from the reference, plus a recursive definition of 'State statutory right' that itself contains exclusions","Section 10 creates a complex 'zombie' provision where the amendment reference continues to have effect after termination for certain purposes","Schedule 3 contains extensive transitional machinery preserving old laws for existing contracts, investigations, and tribunal proceedings","Cross-references to multiple external instruments: National Credit Code, National Consumer Credit Protection Act 2009, and various repealed NSW Acts","Defined terms include circular references (e.g., 'adoption' means adoption under section 4(1))","Proclamation-based termination system with revocation mechanics (sections 5 and 8) creates temporal uncertainty"],"plain_english_summary":"This New South Wales law allows the Commonwealth (federal government) to take over regulation of consumer credit and consumer leases in NSW.\n\n**What it does:**\n- **Adopts** existing federal credit laws (the National Consumer Credit Protection Act 2009) into NSW law, then **refers** the power to make future changes to those laws to the federal Parliament.\n- This is done using **section 51(xxxvii) of the Constitution** — a provision that lets states temporarily give some of their law-making powers to the Commonwealth.\n\n**Who it affects:**\n- **Consumers** borrowing money or entering lease agreements in NSW\n- **Credit providers** (banks, payday lenders, car finance companies)\n- **ASIC** (the federal corporate regulator), which gains powers to enforce credit laws in NSW\n\n**Key features:**\n- The handover can be **reversed** — the NSW Governor can terminate the arrangement by proclamation if the state wants to take back control.\n- Certain matters are **kept out** of federal hands: state taxes, land title systems, and some state statutory rights.\n- **Transitional rules** ensure existing credit contracts and disputes continue under the old rules until they're resolved.\n- A **financial counselling trust fund** is preserved to support community financial counselling services.\n\n**Why it matters:**\nBefore 2010, each state had its own consumer credit laws. This Act (and similar ones in other states) created a **single national system**, making it easier for businesses to operate across Australia and giving consumers consistent protections. However, NSW retains a \"safety switch\" to pull out if needed."},"flash_summary_failed":{"failed":true,"reason":"Unauthenticated. Configure AI_GATEWAY_API_KEY or use a provider module. Learn more: https://ai-sdk.dev/unauthenticated-ai-gateway","source":"analysis-cron"},"issue_detection":{"absurdities":[{"type":"retroactive_impossibility","section":"Point-in-time versions timeline","severity":"high","reasoning":"A legislative version cannot logically be current from 1 January 2011 to 20 June 2010. The end date predates the start date by over six months, meaning the version would have ceased to have effect before it ever came into force. This is either a serious drafting/publishing error or a temporal paradox that makes the status of legislation between those dates fundamentally indeterminate.","confidence":0.98,"description":"A historical version is listed as 'Current from 01/01/2011 to 20/06/2010' — the end date precedes the start date by approximately six months, creating a version that is temporally impossible."},{"type":"other","section":"Point-in-time versions timeline","severity":"low","reasoning":"While not strictly a logical impossibility, a version with a two-day operative window (1 January 2014 to 2 January 2014) is practically absurd. Any rights, obligations, or compliance requirements created or extinguished during that 48-hour window — including over a public holiday period — would be extremely difficult to administer, enforce, or even discover. This raises the question of whether any regulated person could have realistically been aware of and complied with the changes in that period.","confidence":0.82,"description":"A historical version is listed as 'Current from 01/01/2014 to 02/01/2014' — a legislative version in force for only two days raises serious questions about the purposive efficacy of the amendment it represents."},{"type":"self_contradicting","section":"Status Information — Notes","severity":"medium","reasoning":"The blanket assertion that 'all provisions have commenced' is contradicted by the carve-out for cl 9(3) of Sch 3, which has not been incorporated because its operation depends on a future proclamation. If that amendment is excluded precisely because it has not yet taken effect by proclamation, then not all provisions have in fact commenced, directly contradicting the status declaration. This creates legal uncertainty about the true operative state of the Act.","confidence":0.88,"description":"The status information states 'The provisions displayed in this version of the legislation have all commenced' while simultaneously noting that amendments by 'Cl 9(3) of Sch 3 to this Act' are NOT included because that clause repeals cl 9 of Sch 3 by proclamation — implying an uncommenced or conditionally operative provision exists within the same Act."}],"contradictions":[{"severity":"high","section_a":"Point-in-time versions — entry: '01/01/2011, Current from 01/01/2011 to 20/06/2010'","section_b":"Point-in-time versions — entry: '02/07/2010, Current from 02/07/2010 to 31/12/2010'","confidence":0.97,"description":"The version commencing 1 January 2011 purports to end on 20 June 2010, which falls within the operative period of the preceding version (2 July 2010 to 31 December 2010). This creates an overlapping and contradictory timeline where two different versions would ostensibly govern the same period (2 July 2010 to 20 June 2010 is incoherent), and the legislative timeline has no logically consistent continuity."},{"severity":"medium","section_a":"Status Information: 'The provisions displayed in this version of the legislation have all commenced.'","section_b":"Status Information Notes: 'Does not include amendments by Cl 9(3) of Sch 3 to this Act (cl 9(3) of Sch 3 repeals cl 9 of Sch 3 by proclamation)'","confidence":0.87,"description":"The claim that all displayed provisions have commenced is directly contradicted by the exclusion of cl 9(3) of Sch 3, which is withheld from the displayed version precisely because its commencement depends on a proclamation that has not yet been made. The two statements cannot both be true simultaneously."}]},"summary":{"complexity_score":7,"scope_assessment":{"changed":false,"description":"The Act appears to have remained consistent with its original intent — to refer NSW legislative power over consumer credit to the Commonwealth as part of a planned national cooperative credit regulation scheme. Amendments over the years have refined and updated the referral (for example, extending or clarifying scope) but have not fundamentally departed from the original purpose of enabling a unified national consumer credit framework."},"complexity_factors":["Involves constitutional law concepts — specifically the referral of legislative power from a state to the Commonwealth under section 51(xxxvii) of the Australian Constitution, which is an abstract and technical mechanism","Operates as part of a multi-jurisdictional cooperative legislative scheme involving all states, territories, and the Commonwealth acting in concert","The Act itself is largely a legal mechanism (a 'referral' Act) with limited standalone operative content — its full meaning only makes sense when read alongside the federal National Consumer Credit Protection Act 2009","Multiple versions over time (9 point-in-time versions since 2010) indicate ongoing amendments, adding complexity in tracking what applied when","Transitional provisions (Schedule 3) with self-repealing clauses triggered by proclamation add procedural complexity","The scope of the power referred requires careful legal interpretation to determine what credit activities fall within or outside the national scheme","Interplay between state and federal law — including which law prevails in cases of inconsistency — requires understanding of constitutional principles"],"plain_english_summary":"The Credit (Commonwealth Powers) Act 2010 (NSW) transferred NSW’s power over consumer credit to the Commonwealth so a single national regime (the National Consumer Credit Protection Act) governs home loans, personal loans, credit cards and related services. It shifted protections and licensing obligations from state law to the federal system, affecting borrowers, lenders and brokers and enabling consistent responsible‑lending rules across Australia."},"flash_summary":{"complexity_score":7,"scope_assessment":{"changed":true,"description":"The Act initially confines the State’s reference to Commonwealth power to making express amendments of the National Credit legislation (s 6(1)). Section 9, however, states the State’s intention that the National Credit legislation may be amended or otherwise affected by Commonwealth Acts relying on any Commonwealth legislative power (including powers apart from the s51(xxxvii) reference) and by Commonwealth credit instruments. That declaration broadens the legally relevant paths by which Commonwealth measures can alter the operation of the National Credit legislation in NSW, while s 7 preserves specified State‑law exclusions."},"complexity_factors":["Intergovernmental mechanism: adoption of Commonwealth law into State law and referral of powers under s51(xxxvii) (see ss 4 and 6).","Scope tension between limited express‑amendment reference (s 6(1)) and broader amendment/affecting paths declared in s 9.","Governor’s proclamation powers to commence/terminate adoption and reference, and rules for revocation (ss 2, 5, 8) creating timing and procedural contingencies.","Express exclusions protecting State revenue, land recording, property priority and State statutory rights (s 7) requiring careful statutory mapping.","Extensive savings, transitional and continuity provisions in Schedule 3 preserving prior law and proceedings (Sch 3, cls 9, 12, 14, 15).","Operational co‑ordination with a Commonwealth regulator: NSW may supply information and authorise ASIC to act as agent (Sch 3, cls 10–11), raising administrative and compliance interfaces.","Regulation‑making power for savings/transitional matters and potential retrospective operation with non‑prejudice limits (Sch 3, cl 2)."],"plain_english_summary":"This Act adopts the Commonwealth National Credit legislation into New South Wales law and refers credit and consumer‑lease matters to the Commonwealth Parliament so Commonwealth amendments can operate in NSW. The Governor may start or end the adoption and the reference by proclamation. \n\nThe Act also preserves certain existing state protections for specified contracts (including a maximum annual percentage rate), maintains transitional arrangements and a financial counselling trust fund, and authorises NSW officials to provide information to, and enter arrangements with, ASIC to perform credit‑related functions."}},"importantCases":[],"_links":{"self":"/api/acts/credit-commonwealth-powers-act-2010","history":"/api/acts/credit-commonwealth-powers-act-2010/history","analysis":"/api/acts/credit-commonwealth-powers-act-2010/analysis","conflicts":"/api/acts/credit-commonwealth-powers-act-2010/conflicts","importantCases":"/api/acts/credit-commonwealth-powers-act-2010/important-cases","documents":"/api/acts/credit-commonwealth-powers-act-2010/documents"}}