{"id":"credit-transitional-arrangements-act-2010","name":"Credit (Transitional Arrangements) Act 2010","slug":"credit-transitional-arrangements-act-2010","collection":"act","jurisdiction":"sa","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":31843,"registerId":"sa-credit-transitional-arrangements-act-2010-current","compilationNumber":null,"startDate":"2026-04-01","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Credit (Transitional Arrangements) Act 2010","content":"South Australia\nCredit (Transitional Arrangements) Act 2010\nAn Act to enact ancillary provisions, including transitional provisions, relating to the enactment by the Parliament of the Commonwealth of legislation relating to the provision of credit and certain other financial transactions under its legislative powers, including powers with respect to matters referred to that Parliament for the purposes of section 51(xxxvii) of the Constitution of the Commonwealth; to amend the Bills of Sale Act 1886, the Criminal Law (Clamping, Impounding and Forfeiture of Vehicles) Act 2007, the Second-hand Vehicle Dealers Act 1995, the Security and Investigation Agents Act 1995, and the Stamp Duties Act 1923; and to repeal the Consumer Credit (South Australia) Act 1995 and the Credit Administration Act 1995.\n\nContents\n1\tShort title\n2\tCommencement\n3\tInterpretation\n4\tPre‑Code contracts\n5\tConsumer Credit Fund\n6\tProvision of information and assistance to ASIC\n7\tASIC has certain functions and powers\n8\tReferences\n9\tRegulations\nSchedule 1—Related amendments and repeals\nPart 1—Preliminary\n1\tAmendment provisions\nPart 2—Amendment of Bills of Sale Act 1886\n2\tAmendment of section 28—Bills of sale to be void in certain circumstances\nPart 3—Amendment of Criminal Law (Clamping, Impounding and Forfeiture of Vehicles) Act 2007\n3\tAmendment of section 3—Interpretation\nPart 4—Amendment of Second-hand Vehicle Dealers Act 1995\n4\tAmendment of section 3—Interpretation\nPart 5—Amendment of Security and Investigation Agents Act 1995\n5\tAmendment of section 4—Application of Act\nPart 6—Amendment of Stamp Duties Act 1923\n6\tAmendment of section 76—Interpretation\nPart 7—Repeal of Acts\n7\tRepeal of Consumer Credit (South Australia) Act 1995\n8\tRepeal of Credit Administration Act 1995\nLegislative history\n\nThe Parliament of South Australia enacts as follows:\n1—Short title\nThis Act may be cited as the Credit (Transitional Arrangements) Act 2010.\n2—Commencement\n\t(1)\tThis Act will come into operation on a day to be fixed by proclamation.\n\t(2)\tSection 7(5) of the Acts Interpretation Act 1915 does not apply to this Act or to a provision of this Act.\n3—Interpretation\nIn this Act—\nASIC means the Australian Securities and Investments Commission;\nCommissioner means the Commissioner for Consumer Affairs;\nNational Credit Code means the National Credit Code in Schedule 1 of the NCCP Act;\nNational Credit legislation means—\n\t(a)\tthe NCCP Act; and\n\t(b)\tthe NCCP Transitional Provisions Act;\nNCCP Act means the National Consumer Credit Protection Act 2009 of the Commonwealth;\nNCCP Transitional Provisions Act means the National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 of the Commonwealth;\nrelevant day means a day appointed by proclamation as the relevant day for the purposes of the provision in which the term is used.\n4—Pre‑Code contracts\n\t(1)\tIn this section—\nold system law means the Consumer Credit Act 1972 or the Consumer Transactions Act 1972, as in force immediately before the commencement of the Consumer Credit (South Australia) Code.\n\t(2)\tA contract which, immediately before the relevant day, is subject to the application of an old system law by virtue of regulations under section 10 of the Consumer Credit (South Australia) Act 1995 will continue to be subject to the old system law to the extent provided by those regulations immediately before the relevant day.\n5—Consumer Credit Fund\n\t(1)\tThe Consumer Credit Fund continues in existence (and will continue to be constituted in the manner provided by section 14(2) of the Credit Administration Act 1995 immediately before the repeal of that Act by this Act).\n\t(2)\tMoney standing to the credit of the Consumer Credit Fund may be applied by the Commissioner for any purpose authorised by the Minister.\n\t(3)\tThe Commissioner may, when the Commissioner considers it appropriate to do so, after consultation with the Minister, wind up the Consumer Credit Fund and apply any remaining money for any purpose authorised by the Minister.\n6—Provision of information and assistance to ASIC\n\t(1)\tThe Commissioner is authorised, on his or her own initiative or at the request of ASIC—\n\t(a)\tto provide ASIC with such documents and other information in the possession or control of the Commissioner that is reasonably required by ASIC in connection with the performance or exercise of its functions or powers under the National Credit legislation; and\n\t(b)\tto provide ASIC with such other assistance as is reasonably required by ASIC to perform or exercise a function or power under the National Credit legislation.\n\t(2)\tThis section has effect despite any other Act or law.\n7—ASIC has certain functions and powers\n\t(1)\tThe 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 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\t(2)\tAn agreement or arrangement of a kind referred to in subsection (1) has effect by force of this section 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.\n8—References\n\t(1)\tUnless the contrary intention appears or the context requires a different interpretation, a reference in an Act, a statutory instrument, or any other kind of instrument or a contract, agreement or other document, to an Act, code or regulations specified in column 1 of the following table will have effect as if it were a reference to the Act, code or regulations specified opposite it in column 2 of the table.\n\nTable\nColumn 1\nColumn 2\nConsumer Credit (South Australia) Act 1995\nNCCP Act\nCredit Administration Act 1995\nNCCP Act\nConsumer Credit (South Australia) Code\nNational Credit Code\nConsumer Credit (South Australia) Regulations\nRegulations made under the NCCP Act for the purposes of the National Credit Code\n\t(2)\tUnless the contrary intention appears or the context requires a different interpretation, a reference in an Act, a statutory instrument, or any other kind of instrument or a contract, agreement or other document, to a provision of the Consumer Credit (South Australia) Code will have effect as if it were a reference to the corresponding provision of the National Credit Code.\n\t(3)\tFor the purposes of subsection (2), a question of correspondence will be determined in the manner set out in section 5 of the NCCP Transitional Provisions Act.\n9—Regulations\n\t(1)\tThe Governor may, by regulation, make additional provisions of a saving or transitional nature consequent on—\n\t(a)\tthe enactment of this Act; or\n\t(b)\tthe transition from the application of provisions of the Consumer Credit (South Australia) Code, or related laws, of the State to the application of provisions of the National Credit legislation.\n\t(2)\tA provision of a regulation made under subsection (1) may, if the regulation so provides, take effect from the commencement of the relevant Act or from a later day.\n\t(3)\tTo the extent to which a provision takes effect under subsection (2) from a day earlier than the day of the regulation's publication in the Gazette, the provision does not operate to the disadvantage of a person by—\n\t(a)\tdecreasing the person's rights; or\n\t(b)\timposing liabilities on the person.\nSchedule 1—Related amendments and repeals\nPart 1—Preliminary\n1—Amendment provisions\nIn this Schedule, a provision under a heading referring to the amendment of a specified Act amends the Act so specified.\nPart 2—Amendment of Bills of Sale Act 1886\n2—Amendment of section 28—Bills of sale to be void in certain circumstances\n\t(1)\tSection 28(2)—delete subsection (2) and substitute:\n\t(2)\tA bill of sale that constitutes a goods mortgage to which the National Credit Code applies is not rendered void as against any person under subsection (1) by reason of the fact that it is not registered.\n\t(2)\tSection 28—after subsection (3) insert:\n\t(4)\tIn this section—\nNational Credit Code means the National Credit Code in Schedule 1 to the National Consumer Credit Protection Act 2009 of the Commonwealth.\nPart 3—Amendment of Criminal Law (Clamping, Impounding and Forfeiture of Vehicles) Act 2007\n3—Amendment of section 3—Interpretation\nSection 3(1), definition of credit provider, (a)—delete \"the Consumer Credit (South Australia) Code\" and substitute:\nthe National Credit Code in Schedule 1 to the National Consumer Credit Protection Act 2009 of the Commonwealth\nPart 4—Amendment of Second-hand Vehicle Dealers Act 1995\n4—Amendment of section 3—Interpretation\nSection 3—definition of credit provider—delete the definition and substitute:\ncredit provider means a credit provider within the meaning of the National Credit Code in Schedule 1 to the National Consumer Credit Protection Act 2009 of the Commonwealth;\nPart 5—Amendment of Security and Investigation Agents Act 1995\n5—Amendment of section 4—Application of Act\nSection 4(f)(viii)—delete subparagraph (viii) and substitute:\n\t(viii)\ta person lawfully carrying on the business of providing credit within the meaning of the National Credit Code in Schedule 1 to the National Consumer Credit Protection Act 2009 of the Commonwealth; or\nPart 6—Amendment of Stamp Duties Act 1923\n6—Amendment of section 76—Interpretation\nSection 76, definition of mortgage—delete \"section 10(3) of the Consumer Credit (South Australia) Code\" and substitute:\nsection 9(3) of the National Credit Code in Schedule 1 to the National Consumer Credit Protection Act 2009 of the Commonwealth\nPart 7—Repeal of Acts\n7—Repeal of Consumer Credit (South Australia) Act 1995\nThe Consumer Credit (South Australia) Act 1995 is repealed.\n8—Repeal of Credit Administration Act 1995\nThe Credit Administration Act 1995 is repealed.\nLegislative history\nNotes\n\t•\tFor further information relating to the Act and subordinate legislation made under the Act see the Index of South Australian Statutes or www.legislation.sa.gov.au.\nPrincipal Act\nYear\nNo\nTitle\nAssent\nCommencement\n2010\n3\nCredit (Transitional Arrangements) Act 2010 \n24.6.2010\n1.7.2010 (Gazette 1.7.2010 p3337)\n","sortOrder":0}],"analysis":{"issue_detection":{"absurdities":[],"contradictions":[]},"flash_summary":{"complexity_score":4,"scope_assessment":{"changed":false,"description":"This Act performs a narrow, transitional function: it adapts South Australian law to the Commonwealth National Consumer Credit Protection regime, repeals the two State credit Acts, preserves certain state arrangements during the handover (pre‑Code contracts, Consumer Credit Fund), and updates cross‑references in other State Acts. It does not broaden the subject matter beyond that original transitional purpose; rather, it implements and preserves continuity while enabling cooperation with ASIC. There is no substantial expansion of scope beyond facilitating the transfer to the national framework."},"complexity_factors":["Short Act (9 primary sections plus Schedule) but with substantive schedule amendments across multiple Acts","6 defined or named terms in interpretation (ASIC, Commissioner, National Credit Code, National Credit legislation, NCCP Act, NCCP Transitional Provisions Act)","Extensive cross‑references to Commonwealth instruments (NCCP Act, National Credit Code, NCCP Transitional Provisions Act)","Schedule makes targeted amendments to 6 separate state Acts (Bills of Sale Act 1886; Criminal Law (Clamping... Vehicles) Act 2007; Second‑hand Vehicle Dealers Act 1995; Security and Investigation Agents Act 1995; Stamp Duties Act 1923; repeals)","Several conditional mechanisms and preserved exceptions: continuation of pre‑Code contracts (s 4), continuation and winding up of Consumer Credit Fund (s 5), and regulations that may operate from an earlier day but not to a person’s disadvantage (s 9)","Delegation/agency mechanism permitting written agreements with ASIC that override inconsistent State law (s 7)","Information‑sharing provision that operates notwithstanding other laws (s 6(2))","Reference‑replacement rule (s 8) that requires correspondence mapping and reliance on Commonwealth transitional rules (cross‑ref to NCCP Transitional Provisions Act for correspondence)"],"plain_english_summary":"**What this law does (mechanically)**\n\n- Repeals South Australia’s state consumer credit laws (the Consumer Credit (South Australia) Act 1995 and the Credit Administration Act 1995) and replaces their effect with references to the Commonwealth’s National Consumer Credit Protection regime (the NCCP Act and the National Credit Code). (See sections 3, 8 and Schedule Part 7.)\n\n- Keeps certain state arrangements running during the transition: it preserves contracts governed by the old state laws where regulations said they applied before the switch (s 4), continues the Consumer Credit Fund and allows the Commissioner to use or wind it up with Ministerial authority (s 5), and allows the Governor to make regulations to give effect to savings and transitional arrangements (s 9).\n\n- Enables the State’s Commissioner for Consumer Affairs to provide information, documents and assistance to the Australian Securities and Investments Commission (ASIC) for ASIC to exercise its functions under the Commonwealth credit laws — and says this may be done even if other laws would otherwise prevent it (s 6).\n\n- Enables the Minister (or a person authorised by the Minister) to enter written agreements with ASIC under which ASIC performs functions or exercises powers as the State’s agent; those agreements operate even if a State law says otherwise (s 7).\n\n- Updates a handful of other South Australian Acts so that their definitions and cross-references point to the National Credit Code rather than the old State code (Schedule Parts 2–6).\n\n**Who it affects**\n\n- Credit providers and lenders operating in South Australia: they move from the State consumer credit framework into the Commonwealth National Credit Code and NCCP Act framework (s 8 and Schedule amendments).\n\n- The Commissioner for Consumer Affairs (State) and ASIC (Commonwealth): the Commissioner remains an information source and fund administrator during transition (ss 5–6); ASIC becomes the primary regulator for credit under the national laws and may act as agent of the State under agreement (s 7).\n\n- Parties to pre-existing (pre‑Code) credit contracts that were covered by the State’s old law: those contracts continue to be governed by the old law to the extent provided by the pre‑existing regulations (s 4).\n\n- Entities and documents that previously referenced State credit statutes or the State Code: those references will be read as references to the corresponding Commonwealth legislation or National Credit Code unless a different intention appears (s 8).\n\n**Why it matters (stated purpose and practical effects)**\n\n- The Act’s stated purpose is to provide the ancillary legal steps and transitional arrangements needed when the Commonwealth’s credit laws and the National Credit Code take over from South Australia’s own credit laws. That purpose is achieved by (a) repealing the State Acts, (b) mapping old references to the new Commonwealth instruments (s 8), and (c) providing limited savings and transitional treatments (ss 4–5, Schedule, s 9).\n\n- Practical effects include centralising credit regulation under the Commonwealth framework (which changes which rules apply to credit products and which regulator enforces them), preserving certain old contracts and the State’s Consumer Credit Fund during transition, and creating statutory permission for substantial operational cooperation and delegation between the State and ASIC (ss 5–7).\n\n**Costs, incentives and trade-offs (concrete mechanisms)**\n\n- Compliance and private‑sector effects: by replacing State law references with the National Credit Code (s 8 and Schedule), businesses that previously relied on State rules must comply with the national rules. That can change compliance costs and administrative procedures for credit providers (Schedule amendments). The Act itself does not set fees or new licensing requirements but shifts which instrument prescribes those details.\n\n- Regulatory concentration and decision‑making: the Act enables the Minister to contract ASIC to perform State functions or exercise State powers as agent (s 7). Mechanically, this consolidates operational authority in ASIC for credit matters affecting South Australia. The decision to vest functions in ASIC is made by the Minister (or the Minister’s delegate) via agreement (s 7(1)).\n\n- Information flows and legal primacy: the Commissioner is authorised to hand documents and other information to ASIC and to give other assistance even if other laws would normally restrict that (s 6(1)–(2)). This creates a legal mechanism for cross‑jurisdictional data sharing to support enforcement under the NCCP Act.\n\n- Discrete retained state powers and continuing funds: the Consumer Credit Fund continues as constituted immediately before repeal (s 5(1)–(3)), and its money may be applied for Minister‑authorised purposes. The Commissioner may wind it up after consulting the Minister (s 5(3)). That preserves a state asset and decision pathway for its use during transition.\n\n- Transitional certainty and limited retrospectivity: regulations may make saving or transitional provisions that take effect from the commencement of the Act or later (s 9). Such regulations can take effect from before their publication provided they do not disadvantage a person by reducing rights or imposing liabilities (s 9(3)). This mechanism reduces legal uncertainty while protecting individuals from retrospective disadvantage.\n\n**Implementation risks and administrative discretion**\n\n- The Act vests consequential discretion in the Minister (agreements with ASIC, use or winding up of the Consumer Credit Fund) and in the Governor (regulations for transitional savings) (ss 5, 7, 9). Those are ordinary administrative levers, but they concentrate implementation choices at executive level.\n\n- The transfer of enforcement primacy to ASIC and the authorised sharing of Commissioner material (s 6) depends on cooperation between State and Commonwealth agencies. The Act removes legal barriers to that cooperation but does not itself create operational protocols (those will be implemented in agreements and administrative practice).\n\n**Who pays, who decides, and what behaviour changes**\n\n- Who pays: regulated credit providers and their customers bear the immediate compliance costs of moving to the National Credit Code (effect produced by s 8 and Schedule amendments). The Act does not itself create a new tax or charge; it preserves the State’s Consumer Credit Fund for Minister‑authorised uses (s 5).\n\n- Who decides: the Minister decides whether to enter agreements with ASIC (s 7), the Commissioner decides whether to provide documents or assistance to ASIC (s 6), and the Governor (on regulation advice) may make transitional regulations (s 9).\n\n- What behaviour changes: credit providers must follow the national credit rules rather than the State Code; the Commissioner will act as an information source rather than the primary regulator for national credit matters; ASIC will exercise national regulatory functions in South Australia and may execute State‑authorised functions under agreement (ss 6–8).\n\n**Relevant sections for quick reference**\n\n- Repeals and mapping to Commonwealth law: s 8; Schedule Part 7.\n- Pre‑Code contracts: s 4.\n- Consumer Credit Fund: s 5.\n- Information sharing with ASIC: s 6.\n- Agreements enabling ASIC to act as State agent: s 7.\n- Transitional regulation power and limited non‑disadvantaging retrospectivity: s 9.\n\n"},"kimi_summary":{"content_quality":"ok","complexity_score":4,"scope_assessment":{"changed":false,"description":"The legislation remains tightly focused on its original purpose: facilitating the transition from state to national consumer credit regulation. The amendments to other Acts are purely mechanical (updating cross-references), and the core provisions deal with transitional matters, fund wind-down, and cooperation with the Commonwealth. There is no significant scope creep beyond the original intent of managing the handover of credit regulation to the federal government."},"complexity_factors":["Multiple cross-references to Commonwealth legislation (NCCP Act, National Credit Code, NCCP Transitional Provisions Act) requiring readers to understand both state and federal frameworks simultaneously","Defined terms section with 6 definitions, some nested (e.g., 'National Credit legislation' depends on 'NCCP Act' and 'NCCP Transitional Provisions Act')","Transitional provisions with conditional timing ('relevant day' determined by proclamation) creating temporal uncertainty","Automatic statutory interpretation rules in section 8 that rewrite historical references across all instruments and documents","Agency arrangements in section 7 that override other state laws, creating a hierarchy of legal authority","Schedule of consequential amendments affecting 5 separate Acts, requiring readers to track changes across multiple legislative instruments"],"plain_english_summary":"This South Australian law smooths the transition from state-based consumer credit rules to national ones. In 2009–2010, the Commonwealth took over regulation of consumer credit (things like personal loans, credit cards, and car finance) using powers the states handed over. This Act handles the messy practical details of that handover for South Australia.\n\n**What it does:**\n- **Keeps old contracts safe**: Credit agreements made under the old South Australian system continue under those old rules until they end, even after the national system takes over.\n- **Winds down the old fund**: The Consumer Credit Fund (which handled compensation and industry matters under the old state system) stays open temporarily so remaining money can be used up or wound down properly.\n- **Helps the national regulator**: The state Commissioner for Consumer Affairs must share documents and assist ASIC (the national corporate and consumer watchdog) as it takes over credit regulation.\n- **Lets ASIC act for the state**: The state can formally ask ASIC to perform certain state functions, even if those functions technically belong to state officials.\n- **Updates references**: Across all South Australian laws, documents, and contracts, any mention of the old state credit laws is automatically read as referring to the new national laws instead.\n- **Cleans up related laws**: It tweaks five other South Australian Acts (covering bills of sale, vehicle clamping, second-hand car dealers, security agents, and stamp duty) to replace references to the old state credit code with references to the new national one.\n- **Repeals the old system**: It abolishes the Consumer Credit (South Australia) Act 1995 and the Credit Administration Act 1995, which previously governed state credit regulation.\n\n**Who it affects:** Anyone with an existing credit contract under the old South Australian system, businesses that provide credit, and state government agencies handing over responsibilities to the Commonwealth."},"summary":{"complexity_score":2,"scope_assessment":{"changed":false,"description":"Based on the title, the Act appears consistent with its original purpose — managing the transitional period during the national credit law reform of 2010. No evidence of scope change is available given the text could not be retrieved."},"complexity_factors":["The actual legislative text was not retrievable — analysis is based solely on the Act's title and known historical context","Transitional Acts are typically time-limited and mechanistic in nature, making them simpler than substantive legislation","The subject matter (credit regulation handover to Commonwealth) is well-documented in Australian legal history, reducing inferential uncertainty","No provisions, schedules, definitions, or operative clauses could be assessed for complexity"],"plain_english_summary":"## Credit (Transitional Arrangements) Act 2010 — South Australia\n\n**What this is:** The actual text of this South Australian law could not be retrieved — the legislation website returned a 'Page Not Found' error, meaning the source document is unavailable for analysis.\n\n**What we can infer from the title alone:**\n\nBased on its name, this Act was almost certainly a **transitional law** — meaning it was designed to manage the *changeover period* when Australia shifted from a state-based consumer credit licensing system to a new **national consumer credit framework** under the Commonwealth's *National Consumer Credit Protection Act 2009*.\n\nIn 2010, all Australian states and territories (including South Australia) were required to hand over responsibility for regulating consumer credit (things like home loans, personal loans, and credit cards) to the federal government. Transitional Acts like this one typically:\n- **Protected existing rights and obligations** that arose under the old state laws\n- **Ensured contracts and licences** issued before the changeover remained valid\n- **Bridged the gap** so that borrowers and lenders weren't left in legal limbo during the switchover\n\n**Who it affects:** Lenders, credit providers, finance brokers, and borrowers in South Australia who had dealings under the old state credit laws around 2010.\n\n**Why it matters:** Without this kind of transitional law, there could have been uncertainty about whether old credit contracts were still enforceable or whether lenders needed entirely new licences overnight.\n\n⚠️ *This summary is based on inference from the Act's title and historical context only. The actual legislative text was not accessible. For accurate legal advice, consult the South Australian Office of Parliamentary Counsel or a qualified lawyer.*"},"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"}},"importantCases":[],"_links":{"self":"/api/acts/credit-transitional-arrangements-act-2010","history":"/api/acts/credit-transitional-arrangements-act-2010/history","analysis":"/api/acts/credit-transitional-arrangements-act-2010/analysis","conflicts":"/api/acts/credit-transitional-arrangements-act-2010/conflicts","importantCases":"/api/acts/credit-transitional-arrangements-act-2010/important-cases","documents":"/api/acts/credit-transitional-arrangements-act-2010/documents"}}