This Act makes Queensland adopt a specified version of the Commonwealth National Consumer Credit laws (s4) and refers certain credit and consumer‑lease matters to the Commonwealth so they can be expressly amended only as part of that National Credit legislation (s6). It repeals Queensland’s old credit statutes (s11) but keeps transitional protections for existing contracts, preserves some enforcement and offence processes (ss15,21–25), continues a Consumer Credit Fund for specified payments (ss17–19), and allows the Governor to end the adoption or reference by proclamation (ss5,8).
This Act (Credit (Commonwealth Powers) Act 2010) performs three mechanical functions. First, it adopts the specified Commonwealth National Credit legislation within the meaning of section 51(xxxvii) of the Commonwealth Constitution, by declaring that “the relevant version of the National Credit legislation is adopted” for a period beginning on commencement and ending on a day fixed by proclamation (see s 4). Second, it refers specified credit and consumer-lease matters to the Commonwealth Parliament, but only to the limited extent of permitting the Commonwealth to make express amendments to the National Credit legislation (see s 6(1)). Third, it repeals a set of pre-existing State credit laws and provides transitional arrangements to carry certain rights, liabilities, regulatory powers and funds forward into the new regime (see s 11; pt 4 generally).
The adoption is time-limited. Section 4 makes clear the adoption has effect only until the day fixed under s 5 as the termination date, and s 5 gives the Governor a power by proclamation to fix, and to revoke (but only in specified circumstances), that termination day. Mirror provisions exist for ending the amendment reference (s 8). The amendment reference is also time-limited (see s 6(3) and s 8). Section 10 sets out the legal effect if the amendment reference ends while the adoption of the National Credit legislation remains in force, preserving laws made under the amendment reference and the continued operation of the National Credit legislation as affected by such laws and Commonwealth Credit instruments.
The Act expressly excludes certain State matters from any reference to the Commonwealth (s 7), for example State taxes, general land-recording systems, priority of interests in real property and laws that exclude or limit State statutory rights respecting the creation, holding, transfer or forfeiture of those rights. The Act also contains extensive transitional provisions, including continuance and management of a Consumer Credit Fund carried over from the repealed State law (ss 17-20), savings for maximum annual percentage rate regimes for existing contracts (s 21 and s 27A as inserted in 2013), and powers to make transitional regulations (s 27) with limited retrospective effect. Finally, the Act provides for cooperation with ASIC by authorising the Minister to provide information, assistance and to enter arrangements under which ASIC performs functions as an agent of the State (ss 28-29).
Current sections
Direct links to the current provisions in Credit (Commonwealth Powers) Act 2010.
46
pt.1
Preliminary
Preliminary
sec.1
Short title
sec.1 Short title
This Act may be cited as the Credit (Commonwealth Powers) Act 2010 .
sec.2
Commencement
sec.2 Commencement
The provisions of this Act, other than parts 2 and 5 , commence on a day to be fixed by proclamation.
pt.2
Adoption and reference of matters
Adoption and reference of matters
sec.3
Definitions for part
sec.3 Definitions for part
In this part—
adoption means the adoption under section 4 (1) .
amendment reference means the reference under section 6 (1) .
Commonwealth Credit instrument means any instrument (whether or not of a legislative character) that is made or issued under the National Credit legislation.
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.
National Credit legislation means—
the National Consumer Credit Protection Act 2009 (Cwlth) ; and
the National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 (Cwlth) ;
as in force from time to time.
referred credit matter means a matter relating to either of the following—
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;
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.
relevant version of the National Credit Code means the text of schedule 1 to the National Consumer Credit Protection Act 2009 (Cwlth) as originally enacted, and as later amended by the National Consumer Credit Protection Amendment Act 2010 (Cwlth) .
relevant version of the National Credit legislation means—
the National Consumer Credit Protection Act 2009 (Cwlth) as originally enacted, and as later amended by the National Consumer Credit Protection Amendment Act 2010 (Cwlth) ; and
the National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 (Cwlth) .
(a) the National Consumer Credit Protection Act 2009 (Cwlth) ; and
(b) the National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 (Cwlth) ;
(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;
(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.
(a) the National Consumer Credit Protection Act 2009 (Cwlth) as originally enacted, and as later amended by the National Consumer Credit Protection Amendment Act 2010 (Cwlth) ; and
(b) the National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 (Cwlth) .
sec.4
Adoption of National Credit legislation
sec.4 Adoption of National Credit legislation
The relevant version of the National Credit legislation is adopted within the meaning of section 51 (xxxvii) of the Commonwealth Constitution.
The adoption has effect for a period—
beginning when this section commences; and
ending at the end of the day fixed under section 5 as the day on which the adoption is to terminate;
but no longer.
(sec.4-ssec.1) The relevant version of the National Credit legislation is adopted within the meaning of section 51 (xxxvii) of the Commonwealth Constitution.
(sec.4-ssec.2) The adoption has effect for a period— beginning when this section commences; and ending at the end of the day fixed under section 5 as the day on which the adoption is to terminate; but no longer.
(a) beginning when this section commences; and
(b) ending at the end of the day fixed under section 5 as the day on which the adoption is to terminate;
sec.5
Termination of adoption
sec.5 Termination of adoption
The Governor may, at any time, by proclamation published in the gazette, fix a day as the day on which the adoption terminates.
The Governor may, by proclamation published in the gazette, 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.
A revoking proclamation has effect only if published before the day fixed under subsection (1) .
The revocation of a proclamation published under subsection (1) does not prevent publication of a further proclamation under that subsection.
(sec.5-ssec.1) The Governor may, at any time, by proclamation published in the gazette, fix a day as the day on which the adoption terminates.
(sec.5-ssec.2) The Governor may, by proclamation published in the gazette, 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.
(sec.5-ssec.3) A revoking proclamation has effect only if published before the day fixed under subsection (1) .
(sec.5-ssec.4) The revocation of a proclamation published under subsection (1) does not prevent publication of a further proclamation under that subsection.
sec.6
Reference of matters
sec.6 Reference of matters
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.
The reference of a matter under subsection (1) has effect only—
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 Constitution of the Commonwealth); and
if and to the extent that the matter is included in the legislative powers of the Parliament of the State.
Despite any other provision, the reference has effect for a period—
beginning when this section commences; and
ending at the end of the day fixed under section 8 as the day on which the reference terminates;
but no longer.
(sec.6-ssec.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.
(sec.6-ssec.2) The reference of a matter under subsection (1) has effect only— 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 Constitution of the Commonwealth); and if and to the extent that the matter is included in the legislative powers of the Parliament of the State.
(sec.6-ssec.3) Despite any other provision, the reference has effect for a period— beginning when this section commences; and ending at the end of the day fixed under section 8 as the day on which the reference terminates; but no longer.
(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 Constitution of the Commonwealth); and
(b) if and to the extent that the matter is included in the legislative powers of the Parliament of the State.
(a) beginning when this section commences; and
(b) ending at the end of the day fixed under section 8 as the day on which the reference terminates;
sec.7
Matters excluded from reference
sec.7 Matters excluded from reference
A matter referred by section 6 (1) does not include—
the matter of making provision with respect to the imposition or payment of State taxes, duties, charges or other imposts, however described; or
the matter of making provision with respect to the general system for the recording of estates or interests in land and related information; or
the matter of providing for the priority of interests in real property; or
the matter of making a law that excludes or limits the operation of a State law, to the extent the State law makes provision with respect to the creation, holding, transfer, assignment, disposal or forfeiture of a State statutory right.
In this section—
forfeiture means confiscation, seizure, extinguishment, cancellation, suspension or any other forfeiture.
State law means—
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
the general law, being the principles and rules of common law and equity to the extent they have effect in the State from time to time.
State statutory right means a right, entitlement or authority 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 relating to—
credit covered by paragraph (a) of the definition of referred credit matter in section 3 ; or
a consumer lease covered by paragraph (b) of that definition.
(sec.7-ssec.1) A matter referred by section 6 (1) does not include— the matter of making provision with respect to the imposition or payment of State taxes, duties, charges or other imposts, however described; or the matter of making provision with respect to the general system for the recording of estates or interests in land and related information; or the matter of providing for the priority of interests in real property; or the matter of making a law that excludes or limits the operation of a State law, to the extent the State law makes provision with respect to the creation, holding, transfer, assignment, disposal or forfeiture of a State statutory right.
(sec.7-ssec.2) In this section— forfeiture means confiscation, seizure, extinguishment, cancellation, suspension or any other forfeiture. State law means— 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 the general law, being the principles and rules of common law and equity to the extent they have effect in the State from time to time. State statutory right means a right, entitlement or authority 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 relating to— credit covered by paragraph (a) of the definition of referred credit matter in section 3 ; or a consumer lease covered by paragraph (b) of that definition.
(a) the matter of making provision with respect to the imposition or payment of State taxes, duties, charges or other imposts, however described; or
(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
(c) the matter of providing for the priority of interests in real property; or
(d) the matter of making a law that excludes or limits the operation of a State law, to the extent the State law makes provision with respect to the creation, holding, transfer, assignment, disposal or forfeiture of a State statutory right.
(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
(b) the general law, being the principles and rules of common law and equity to the extent they have effect in the State from time to time.
(a) credit covered by paragraph (a) of the definition of referred credit matter in section 3 ; or
(b) a consumer lease covered by paragraph (b) of that definition.
sec.8
Termination of reference
sec.8 Termination of reference
The Governor may, at any time, by proclamation published in the gazette, fix a day as the day on which the amendment reference terminates.
The Governor may, by proclamation published in the gazette, 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.
A revoking proclamation has effect only if published before the day fixed under subsection (1) .
The revocation of a proclamation published under subsection (1) does not prevent publication of a further proclamation under that subsection.
(sec.8-ssec.1) The Governor may, at any time, by proclamation published in the gazette, fix a day as the day on which the amendment reference terminates.
(sec.8-ssec.2) The Governor may, by proclamation published in the gazette, 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.
(sec.8-ssec.3) A revoking proclamation has effect only if published before the day fixed under subsection (1) .
(sec.8-ssec.4) The revocation of a proclamation published under subsection (1) does not prevent publication of a further proclamation under that subsection.
sec.9
Amendment of Commonwealth law
sec.9 Amendment of Commonwealth law
For the avoidance of doubt, it is the intention of the Parliament of the State that—
the National Credit legislation may be expressly amended, or have its operation otherwise affected, at any time after the commencement of this Act 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; and
the National Credit legislation may be expressly amended, or have its operation otherwise affected, at any time after the commencement of this Act by provisions of Commonwealth Acts the operation of which is based on 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; and
the National Credit legislation may have its operation affected, otherwise than by express amendment, at any time by provisions of Commonwealth Credit instruments.
(a) the National Credit legislation may be expressly amended, or have its operation otherwise affected, at any time after the commencement of this Act 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; and
(b) the National Credit legislation may be expressly amended, or have its operation otherwise affected, at any time after the commencement of this Act by provisions of Commonwealth Acts the operation of which is based on 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; and
(c) the National Credit legislation may have its operation affected, otherwise than by express amendment, at any time by provisions of Commonwealth Credit instruments.
sec.10
Effect of termination of amendment reference before termination of adoption of Commonwealth Acts
sec.10 Effect of termination of amendment reference before termination of adoption of Commonwealth Acts
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—
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
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—
laws referred to in paragraph (a) that come into operation after that termination; or
provisions referred to in section 9 (b) or (c) .
Accordingly, the amendment reference continues to have effect for the purposes of subsection (1) unless the adoption is terminated.
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.
For the purposes of subsection (1) —
the laws referred to in subsection (1) (a) include Commonwealth Credit instruments; and
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.
(sec.10-ssec.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— 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 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— laws referred to in paragraph (a) that come into operation after that termination; or provisions referred to in section 9 (b) or (c) .
(sec.10-ssec.2) Accordingly, the amendment reference continues to have effect for the purposes of subsection (1) unless the adoption is terminated.
(sec.10-ssec.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.
(sec.10-ssec.4) For the purposes of subsection (1) — the laws referred to in subsection (1) (a) include Commonwealth Credit instruments; and 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.
(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
(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— (i) laws referred to in paragraph (a) that come into operation after that termination; or (ii) provisions referred to in section 9 (b) or (c) .
(i) laws referred to in paragraph (a) that come into operation after that termination; or
(ii) provisions referred to in section 9 (b) or (c) .
(i) laws referred to in paragraph (a) that come into operation after that termination; or
(ii) provisions referred to in section 9 (b) or (c) .
(a) the laws referred to in subsection (1) (a) include Commonwealth Credit instruments; and
(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.
In this part—
Consumer Credit Fund means the Consumer Credit Fund under the repealed Consumer Credit (Queensland) Act 1994 , section 51 .
continued fund means the Consumer Credit Fund as continued under section 17(1).
former consumer credit legislation means the following as in force before their repeal—
the Consumer Credit (Queensland) Act 1994 including the Consumer Credit (Queensland) Code;
the Consumer Credit Regulation 1995 ;
the Consumer Credit (Queensland) Special Provisions Regulation 2008 .
National Credit Code means the National Credit Code in Schedule 1 of the National Consumer Credit Protection Act 2009 (Cwlth).
National credit legislation means—
the National Consumer Credit Protection Act 2009 (Cwlth); and
the National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 (Cwlth).
repealed Consumer Credit (Queensland) Code means the Appendix to the repealed Consumer Credit (Queensland) Act 1994 .
(a) the Consumer Credit (Queensland) Act 1994 including the Consumer Credit (Queensland) Code;
(b) the Consumer Credit Regulation 1995 ;
(c) the Consumer Credit (Queensland) Special Provisions Regulation 2008 .
(a) the National Consumer Credit Protection Act 2009 (Cwlth); and
(b) the National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 (Cwlth).
sec.13
Acts Interpretation Act, s 20 not limited
sec.13 Acts Interpretation Act, s 20 not limited
This part does not limit the Acts Interpretation Act 1954 , section 20.
However, see the National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 (Cwlth), schedule 1, part 2 (Transition from the old Credit Codes to the new Credit Code).
pt.4-div.2
Transitional provisions for the repeal of Credit Act 1987
Transitional provisions for the repeal of Credit Act 1987
sec.14
Definition for division
sec.14 Definition for division
In this division—
repealed Act means the repealed Credit Act 1987 .
sec.15
Continuation of effect of repealed Act
sec.15 Continuation of effect of repealed Act
Despite the repeal of the repealed Act, the repealed Act continues to apply as prescribed by the repealed Act, sections 21A and 21B in relation to persons, contracts and other matters to the same extent it applied before the repeal.
For the purpose of subsection (1), the repealed Consumer Credit (Queensland) Code continues to have effect for the purposes of sections 21A and 21B of the repealed Act as if the Consumer Credit (Queensland) Code had not been repealed.
Amounts payable under section 87B of the repealed Act to the Consumer Credit Fund are to be paid to the continued fund.
To remove any doubt, it is declared that a reference to the repealed Act in this section includes a reference to regulations made under the repealed Act.
(sec.15-ssec.1) Despite the repeal of the repealed Act, the repealed Act continues to apply as prescribed by the repealed Act, sections 21A and 21B in relation to persons, contracts and other matters to the same extent it applied before the repeal.
(sec.15-ssec.2) For the purpose of subsection (1), the repealed Consumer Credit (Queensland) Code continues to have effect for the purposes of sections 21A and 21B of the repealed Act as if the Consumer Credit (Queensland) Code had not been repealed.
(sec.15-ssec.3) Amounts payable under section 87B of the repealed Act to the Consumer Credit Fund are to be paid to the continued fund.
(sec.15-ssec.4) To remove any doubt, it is declared that a reference to the repealed Act in this section includes a reference to regulations made under the repealed Act.
pt.4-div.3
Transitional and other provisions for the repeal of Consumer Credit (Queensland) Act 1994
Transitional and other provisions for the repeal of Consumer Credit (Queensland) Act 1994
sec.16
Definition for division
sec.16 Definition for division
In this division—
repealed Act means the repealed Consumer Credit (Queensland) Act 1994 .
sec.17
Continuation of Consumer Credit Fund
sec.17 Continuation of Consumer Credit Fund
The Consumer Credit Fund continues in existence despite the repeal of the repealed Act.
Accounts for the continued fund must be kept as part of the departmental accounts of the department.
Amounts received for the continued fund must be deposited in a departmental financial institution account of the department but may be deposited in an account used for depositing other amounts of the department.
The chief executive may change the name by which the continued fund is known.
In this section—
departmental accounts , of the department, means the accounts of the department under the Financial Accountability Act 2009 , section 69.
departmental financial institution account , of the department, means an account of the department kept under the Financial Accountability Act 2009 , section 83.
other amounts , of the department, means amounts received by the department other than amounts received for the continued fund.
(sec.17-ssec.1) The Consumer Credit Fund continues in existence despite the repeal of the repealed Act.
(sec.17-ssec.2) Accounts for the continued fund must be kept as part of the departmental accounts of the department.
(sec.17-ssec.3) Amounts received for the continued fund must be deposited in a departmental financial institution account of the department but may be deposited in an account used for depositing other amounts of the department.
(sec.17-ssec.4) The chief executive may change the name by which the continued fund is known.
(sec.17-ssec.5) In this section— departmental accounts , of the department, means the accounts of the department under the Financial Accountability Act 2009 , section 69. departmental financial institution account , of the department, means an account of the department kept under the Financial Accountability Act 2009 , section 83. other amounts , of the department, means amounts received by the department other than amounts received for the continued fund.
sec.18
Amounts payable to continued fund
sec.18 Amounts payable to continued fund
This section applies to the following amounts—
a repealed Act amount;
an amount, that corresponds to an amount mentioned in subsection (5), that is payable because of the application of the former consumer credit legislation as provided under section 33(2).
An amount mentioned in subsection (1)(a) continues to be payable to the continued fund.
An amount mentioned in subsection (1)(b) is payable to the continued fund.
The continued fund consists of the following—
amounts that are in the Consumer Credit Fund on the commencement of this subdivision;
amounts payable into the fund.
A repealed Act amount is an amount payable under the repealed Act or the repealed Credit Act 1987 to the Consumer Credit Fund or the continued fund including, for example—
an amount payable under the repealed Consumer Credit (Queensland) Code , section 106 ;
an amount payable under the repealed Credit Act 1987 , section 87B ;
another amount payable to the continued fund by a credit provider under the repealed Act;
interest and other income derived from the investment of amounts standing to the credit of the continued fund;
costs awarded to the chief executive by a court in a proceeding under the repealed Act;
costs awarded to the registrar by a court in a proceeding under the repealed Credit Act 1987 ;
interest and earnings from investments;
costs awarded to the chief executive.
However, an amount payable under subsection (5)(a) does not include an amount that is payable to the Commonwealth under the National Credit Code on the commencement of that Code.
(sec.18-ssec.1) This section applies to the following amounts— a repealed Act amount; an amount, that corresponds to an amount mentioned in subsection (5), that is payable because of the application of the former consumer credit legislation as provided under section 33(2).
(sec.18-ssec.2) An amount mentioned in subsection (1)(a) continues to be payable to the continued fund.
(sec.18-ssec.3) An amount mentioned in subsection (1)(b) is payable to the continued fund.
(sec.18-ssec.4) The continued fund consists of the following— amounts that are in the Consumer Credit Fund on the commencement of this subdivision; amounts payable into the fund.
(sec.18-ssec.5) A repealed Act amount is an amount payable under the repealed Act or the repealed Credit Act 1987 to the Consumer Credit Fund or the continued fund including, for example— an amount payable under the repealed Consumer Credit (Queensland) Code , section 106 ; an amount payable under the repealed Credit Act 1987 , section 87B ; another amount payable to the continued fund by a credit provider under the repealed Act; interest and other income derived from the investment of amounts standing to the credit of the continued fund; costs awarded to the chief executive by a court in a proceeding under the repealed Act; costs awarded to the registrar by a court in a proceeding under the repealed Credit Act 1987 ; interest and earnings from investments; costs awarded to the chief executive.
(sec.18-ssec.6) However, an amount payable under subsection (5)(a) does not include an amount that is payable to the Commonwealth under the National Credit Code on the commencement of that Code.
(a) a repealed Act amount;
(b) an amount, that corresponds to an amount mentioned in subsection (5), that is payable because of the application of the former consumer credit legislation as provided under section 33(2).
(a) amounts that are in the Consumer Credit Fund on the commencement of this subdivision;
(b) amounts payable into the fund.
(a) an amount payable under the repealed Consumer Credit (Queensland) Code , section 106 ;
(b) an amount payable under the repealed Credit Act 1987 , section 87B ;
(c) another amount payable to the continued fund by a credit provider under the repealed Act;
(d) interest and other income derived from the investment of amounts standing to the credit of the continued fund;
(e) costs awarded to the chief executive by a court in a proceeding under the repealed Act;
(f) costs awarded to the registrar by a court in a proceeding under the repealed Credit Act 1987 ;
(g) interest and earnings from investments;
(h) costs awarded to the chief executive.
sec.19
Payments from continued fund
sec.19 Payments from continued fund
The chief executive may approve the payment of an amount from the continued fund, on terms the chief executive considers appropriate, for any of the following purposes—
engaging with consumers;
research for consumer policy;
general consumer education campaigns;
consumer surveys;
other consumer-related initiatives;
legal fees incurred by the chief executive, or costs awarded by a court against the chief executive, in a proceeding under the repealed Act;
legal fees incurred by the registrar, or costs awarded by a court against the registrar, in a proceeding under the repealed Credit Act 1987 .
The continued fund is taken to be closed when all amounts in the fund are expended.
(sec.19-ssec.1) The chief executive may approve the payment of an amount from the continued fund, on terms the chief executive considers appropriate, for any of the following purposes— engaging with consumers; research for consumer policy; general consumer education campaigns; consumer surveys; other consumer-related initiatives; legal fees incurred by the chief executive, or costs awarded by a court against the chief executive, in a proceeding under the repealed Act; legal fees incurred by the registrar, or costs awarded by a court against the registrar, in a proceeding under the repealed Credit Act 1987 .
(sec.19-ssec.2) The continued fund is taken to be closed when all amounts in the fund are expended.
(a) engaging with consumers;
(b) research for consumer policy;
(c) general consumer education campaigns;
(d) consumer surveys;
(e) other consumer-related initiatives;
(f) legal fees incurred by the chief executive, or costs awarded by a court against the chief executive, in a proceeding under the repealed Act;
(g) legal fees incurred by the registrar, or costs awarded by a court against the registrar, in a proceeding under the repealed Credit Act 1987 .
sec.20
Report on operations of continued fund
sec.20 Report on operations of continued fund
The department’s annual report for a financial year must include a report on the operations of the continued fund during the year.
pt.4-div.4
General provisions for Act No. 16 of 2010
General provisions for Act No. 16 of 2010
sec.21
Continuation of maximum annual percentage rate for existing credit contracts
sec.21 Continuation of maximum annual percentage rate for existing credit contracts
Subsection (2) applies to an existing credit contract under the former consumer credit legislation.
The provisions of the former consumer credit legislation in relation to the maximum annual percentage rate under an existing credit contract continue to apply as if those provisions had not been repealed and were still in force.
Without limiting subsection (2), the following provisions of the former consumer credit legislation are applied in relation to the maximum annual percentage rate under an existing credit contract—
the provisions in relation to the enforcement of that rate;
the provisions in relation to any powers of investigation in relation to that rate;
the provisions in relation to the taking of any proceedings or action against a credit provider in relation to that rate.
In this section—
existing credit contract means a credit contract to which the former consumer credit legislation applied immediately before the repeal of the Consumer Credit (Queensland) Act 1994 .
(sec.21-ssec.1) Subsection (2) applies to an existing credit contract under the former consumer credit legislation.
(sec.21-ssec.2) The provisions of the former consumer credit legislation in relation to the maximum annual percentage rate under an existing credit contract continue to apply as if those provisions had not been repealed and were still in force.
(sec.21-ssec.3) Without limiting subsection (2), the following provisions of the former consumer credit legislation are applied in relation to the maximum annual percentage rate under an existing credit contract— the provisions in relation to the enforcement of that rate; the provisions in relation to any powers of investigation in relation to that rate; the provisions in relation to the taking of any proceedings or action against a credit provider in relation to that rate.
(sec.21-ssec.4) In this section— existing credit contract means a credit contract to which the former consumer credit legislation applied immediately before the repeal of the Consumer Credit (Queensland) Act 1994 .
(a) the provisions in relation to the enforcement of that rate;
(b) the provisions in relation to any powers of investigation in relation to that rate;
(c) the provisions in relation to the taking of any proceedings or action against a credit provider in relation to that rate.
sec.22
Proceedings
sec.22 Proceedings
Any proceedings relating to any matter arising under the provisions of the former consumer credit legislation that were commenced before the commencement of this part, but were not finally decided as at the commencement, may continue to be dealt with or otherwise decided as if those provisions had not been repealed.
sec.23
Offences
sec.23 Offences
This section applies if a person is alleged to have committed an offence against the former consumer credit legislation before the commencement of this part.
Despite the Criminal Code, section 11, proceedings for the offence may be started or continued, and the court may hear and decide the proceedings, as if this Act, other than this section, had not commenced.
However, proceedings may not be started under part 6, division 3 of the repealed Consumer Credit (Queensland) Act 1994 .
See the National Consumer Credit Protection Act 2009 (Cwlth) , chapter 2 (Licensing of persons who engage in credit activities).
See also the note to section 13.
(sec.23-ssec.1) This section applies if a person is alleged to have committed an offence against the former consumer credit legislation before the commencement of this part.
(sec.23-ssec.2) Despite the Criminal Code, section 11, proceedings for the offence may be started or continued, and the court may hear and decide the proceedings, as if this Act, other than this section, had not commenced.
(sec.23-ssec.3) However, proceedings may not be started under part 6, division 3 of the repealed Consumer Credit (Queensland) Act 1994 . See the National Consumer Credit Protection Act 2009 (Cwlth) , chapter 2 (Licensing of persons who engage in credit activities). See also the note to section 13.
1 See the National Consumer Credit Protection Act 2009 (Cwlth) , chapter 2 (Licensing of persons who engage in credit activities).
2 See also the note to section 13.
sec.24
Control of credit provider’s practices
sec.24 Control of credit provider’s practices
This section applies if it appears to the chief executive that a credit provider has repeatedly engaged in unjust conduct under the repealed Consumer Credit (Queensland) Act 1994 (the repealed Act ) before its repeal.
The provisions of part 6, division 2 of the repealed Act for the taking of any proceedings or action against a credit provider in relation to the unjust conduct mentioned in subsection (1) apply as if this Act, other than this section, had not commenced.
(sec.24-ssec.1) This section applies if it appears to the chief executive that a credit provider has repeatedly engaged in unjust conduct under the repealed Consumer Credit (Queensland) Act 1994 (the repealed Act ) before its repeal.
(sec.24-ssec.2) The provisions of part 6, division 2 of the repealed Act for the taking of any proceedings or action against a credit provider in relation to the unjust conduct mentioned in subsection (1) apply as if this Act, other than this section, had not commenced.
sec.25
Monitoring, enforcement and administration generally
sec.25 Monitoring, enforcement and administration generally
This section applies for the purpose of the monitoring, enforcement and administration generally of the repealed Consumer Credit (Queensland) Act 1994 (the repealed Act ), including the repealed Act as continued in effect for any purpose.
The repealed Act, parts 7 and 9, and anything done under those parts, continues to apply as if the parts had not been repealed.
To remove any doubt, it is declared that a person holding an appointment as an inspector under section 33(3) is authorised to perform functions and exercise powers for the purposes of this division.
(sec.25-ssec.1) This section applies for the purpose of the monitoring, enforcement and administration generally of the repealed Consumer Credit (Queensland) Act 1994 (the repealed Act ), including the repealed Act as continued in effect for any purpose.
(sec.25-ssec.2) The repealed Act, parts 7 and 9, and anything done under those parts, continues to apply as if the parts had not been repealed.
(sec.25-ssec.3) To remove any doubt, it is declared that a person holding an appointment as an inspector under section 33(3) is authorised to perform functions and exercise powers for the purposes of this division.
sec.26
References to superseded legislation and subordinate legislation
sec.26 References to superseded legislation and subordinate legislation
This section applies—
unless the contrary intention appears or the context requires a different interpretation; and
to take account of the adoption of matters under section 4 and the referral of matters under section 6.
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 stated in column 1 of the following table will have effect as if it were a reference to the Act , code or regulations stated opposite it in column 2 of the table.
Column 1
Column 2
Consumer Credit (Queensland) Act 1994
National Consumer Credit Protection Act 2009 (Cwlth)
Consumer Credit (Queensland) Code
National Credit Code
Consumer Credit (Queensland) Regulation 1995 or Consumer Credit (Queensland) Special Provisions Regulation 2008
Regulations made for the purposes of the National Consumer Credit Protection Act 2009 (Cwlth) (including the National Credit Code )
(sec.26-ssec.1) This section applies— unless the contrary intention appears or the context requires a different interpretation; and to take account of the adoption of matters under section 4 and the referral of matters under section 6.
(sec.26-ssec.2) 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 stated in column 1 of the following table will have effect as if it were a reference to the Act , code or regulations stated opposite it in column 2 of the table. Column 1 Column 2 Consumer Credit (Queensland) Act 1994 National Consumer Credit Protection Act 2009 (Cwlth) Consumer Credit (Queensland) Code National Credit Code Consumer Credit (Queensland) Regulation 1995 or Consumer Credit (Queensland) Special Provisions Regulation 2008 Regulations made for the purposes of the National Consumer Credit Protection Act 2009 (Cwlth) (including the National Credit Code )
(a) unless the contrary intention appears or the context requires a different interpretation; and
(b) to take account of the adoption of matters under section 4 and the referral of matters under section 6.
sec.27
Transitional regulation-making power
sec.27 Transitional regulation-making power
A regulation (a transitional regulation ) may make provision of a saving or transitional nature—
for which it is necessary to make provision to allow or facilitate the change from the operation of the provisions of the former consumer credit legislation to the operation of the provisions of the National credit legislation; and
for which this Act does not make provision or sufficient provision.
Without limiting subsection (1), a transitional regulation may continue the operation of a repealed provision.
A transitional regulation may have retrospective operation to a day not earlier than the commencement of this section.
To the extent to which a provision takes effect under subsection (3) from a day earlier than the day of the regulation’s notification in the gazette, the provision does not operate to the disadvantage of a person by—
decreasing the person’s rights; or
imposing liabilities on the person.
A transitional regulation must declare it is a transitional regulation.
This section and a transitional regulation expire 2 years after the day the regulation commences.
In this section—
former consumer credit legislation includes the following—
the Credit Act 1987 ;
the Credit Regulations 1988 .
s 27 exp 2 years after the day the regulation commences (see s 27(6))
(sec.27-ssec.1) A regulation (a transitional regulation ) may make provision of a saving or transitional nature— for which it is necessary to make provision to allow or facilitate the change from the operation of the provisions of the former consumer credit legislation to the operation of the provisions of the National credit legislation; and for which this Act does not make provision or sufficient provision.
(sec.27-ssec.2) Without limiting subsection (1), a transitional regulation may continue the operation of a repealed provision.
(sec.27-ssec.3) A transitional regulation may have retrospective operation to a day not earlier than the commencement of this section.
(sec.27-ssec.4) To the extent to which a provision takes effect under subsection (3) from a day earlier than the day of the regulation’s notification in the gazette, the provision does not operate to the disadvantage of a person by— decreasing the person’s rights; or imposing liabilities on the person.
(sec.27-ssec.5) A transitional regulation must declare it is a transitional regulation.
(sec.27-ssec.6) This section and a transitional regulation expire 2 years after the day the regulation commences.
(sec.27-ssec.7) In this section— former consumer credit legislation includes the following— the Credit Act 1987 ; the Credit Regulations 1988 .
(a) for which it is necessary to make provision to allow or facilitate the change from the operation of the provisions of the former consumer credit legislation to the operation of the provisions of the National credit legislation; and
(b) for which this Act does not make provision or sufficient provision.
(a) decreasing the person’s rights; or
(b) imposing liabilities on the person.
(a) the Credit Act 1987 ;
(b) the Credit Regulations 1988 .
pt.4-div.5
Saving provision for Liquor and Gaming (Red Tape Reduction) and Other Legislation Amendment Act 2013
Saving provision for Liquor and Gaming (Red Tape Reduction) and Other Legislation Amendment Act 2013
sec.27A
Saving of repealed pt 6 for existing credit contracts
sec.27A Saving of repealed pt 6 for existing credit contracts
Repealed part 6 continues to apply in relation to an existing credit contract and the maximum annual percentage rate for the contract as if the Liquor and Gaming (Red Tape Reduction) and Other Legislation Act 2013 , part 5 had not commenced.
In this section—
existing credit contract means a credit contract entered into on or after 31 July 2008 to which repealed part 6 applied immediately before the commencement of this section.
repealed part 6 means part 6 as in force immediately before the commencement of this section.
s 27A ins 2013 No. 25 s 31
(sec.27A-ssec.1) Repealed part 6 continues to apply in relation to an existing credit contract and the maximum annual percentage rate for the contract as if the Liquor and Gaming (Red Tape Reduction) and Other Legislation Act 2013 , part 5 had not commenced.
(sec.27A-ssec.2) In this section— existing credit contract means a credit contract entered into on or after 31 July 2008 to which repealed part 6 applied immediately before the commencement of this section. repealed part 6 means part 6 as in force immediately before the commencement of this section.
pt.5
Provisions relating to ASIC
Provisions relating to ASIC
sec.28
Provision of information and assistance to ASIC
sec.28 Provision of information and assistance to ASIC
The Minister is authorised, on his or her own initiative or at the request of ASIC—
to provide ASIC with the documents and other information in the possession or control of the Minister that are reasonably required by ASIC in connection with the performance or exercise of its functions or powers under the National credit legislation; and
to provide ASIC with other assistance that is reasonably required by ASIC to perform or exercise a function or power under the National credit legislation.
Subsection (1) applies despite any other Act or law.
The Minister is authorised to do an act or thing under this section before the commencement of the National credit legislation.
(sec.28-ssec.1) The Minister is authorised, on his or her own initiative or at the request of ASIC— to provide ASIC with the documents and other information in the possession or control of the Minister that are reasonably required by ASIC in connection with the performance or exercise of its functions or powers under the National credit legislation; and to provide ASIC with other assistance that is reasonably required by ASIC to perform or exercise a function or power under the National credit legislation.
(sec.28-ssec.2) Subsection (1) applies despite any other Act or law.
(sec.28-ssec.3) The Minister is authorised to do an act or thing under this section before the commencement of the National credit legislation.
(a) to provide ASIC with the documents and other information in the possession or control of the Minister that are reasonably required by ASIC in connection with the performance or exercise of its functions or powers under the National credit legislation; and
(b) to provide ASIC with other assistance that is reasonably required by ASIC to perform or exercise a function or power under the National credit legislation.
sec.29
ASIC has particular functions and powers
sec.29 ASIC has particular functions and powers
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.
An agreement or arrangement of a kind mentioned in subsection (1) has effect by force of this section despite any provision of a law of the State in relation to any function or power that is the subject of the agreement or arrangement.
The National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 , Schedule 1, part 4, section 23 provides that ASIC has particular functions and powers that are expressed to be conferred on it by or under a law of a State.
(sec.29-ssec.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.
(sec.29-ssec.2) An agreement or arrangement of a kind mentioned in subsection (1) has effect by force of this section despite any provision of a law of the State in relation to any function or power that is the subject of the agreement or arrangement. The National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 , Schedule 1, part 4, section 23 provides that ASIC has particular functions and powers that are expressed to be conferred on it by or under a law of a State.
pt.6
MAXIMUM ANNUAL PERCENTAGE RATE FOR CREDIT CONTRACTS
MAXIMUM ANNUAL PERCENTAGE RATE FOR CREDIT CONTRACTS
sec.30
Section sec.30
s 30 om 2013 No. 25 s 32
sec.31
Section sec.31
s 31 om 2013 No. 25 s 32
sec.32
Section sec.32
s 32 om 2013 No. 25 s 32
sec.33
Section sec.33
s 33 om 2013 No. 25 s 32
sec.34
Section sec.34
s 34 om 2013 No. 25 s 32
Source text: opening excerpt
Sourced from Queensland Legislation (legislation.qld.gov.au), CC BY 4.0.
pt.1 Preliminary
Preliminary
sec.1 Short title
sec.1 Short title
This Act may be cited as the Credit (Commonwealth Powers) Act 2010 .
sec.2 Commencement
sec.2 Commencement
The provisions of this Act, other than parts 2 and 5 , commence on a day to be fixed by proclamation.
pt.2 Adoption and reference of matters
Adoption and reference of matters
sec.3 Definitions for part
sec.3 Definitions for part
In this part—
adoption means the adoption under section 4 (1) .
amendment reference means the reference under section 6 (1) .
Commonwealth Credit instrument means any instrument (whether or not of a legislative character) that is made or issued under the National Credit legislation.
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.
National Credit legislation means—
the National Consumer Credit Protection Act 2009 (Cwlth) ; and
the National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 (Cwlth) ;
as in force from time to time.
referred credit matter means a matter relating to either of the following—
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;
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.
relevant version of the National Credit Code means the text of schedule 1 to the National Consumer Credit Protection Act 2009 (Cwlth) as originally enacted, and as later amended by the National Consumer Credit Protection Amendment Act 2010 (Cwlth) .
relevant version of the National Credit legislation means—
the National Consumer Credit Protection Act 2009 (Cwlth) as originally enacted, and as later amended by the National Consumer Credit Protection Amendment Act 2010 (Cwlth) ; and
the National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 (Cwlth) .
(a) the National Consumer Credit Protection Act 2009 (Cwlth) ; and
The Act therefore effects a structural transfer of consumer credit regulatory competence from State law to the National Credit legislation, while preserving a set of State supervisory, funding and transitional mechanisms for legacy matters. The statutory mechanics that achieve this transition are adoption (s 4), reference (s 6), repeal (s 11) and transitional continuations and savings (pt 4).
Main concepts
The Act defines several central legal and operational concepts and then attaches legal consequences to them.
“Relevant version of the National Credit legislation” and “relevant version of the National Credit Code” (s 3): The Act adopts the National Consumer Credit Protection Act 2009 (Cwlth), its Transitional and Consequential Provisions Act 2009, and specifically the National Credit Code as that Code stood originally and as later amended by the Commonwealth National Consumer Credit Protection Amendment Act 2010. The definition determines precisely which Commonwealth text the State is adopting under s 4.
Adoption (s 4): Adoption means the State is adopting the Commonwealth text pursuant to s 51(xxxvii) of the Constitution, but only for a period that starts on commencement and ends on the day fixed by the Governor’s proclamation under s 5. The adoption is limited in time and revocable by proclamation.
Amendment reference (s 6): The State refers “referred credit matters” to the Commonwealth, but only to the extent that the Commonwealth can make express amendments of the National Credit legislation. The reference is limited to matters that are within State legislative power as well as not already within Commonwealth powers (s 6(2)) and is itself time-limited (s 6(3)).
Referred credit matter (s 3): This includes credit and consumer leases as defined to align with the National Credit Code definitions. The reference therefore covers substantially the same subject matter as the Code but only for express amendment of the Commonwealth text.
Exclusions from reference (s 7): Certain categories of State law are expressly carved out from the reference, including State taxes and charges, land-record systems, priorities in real property and laws that create, hold or dispose of State statutory rights. These exclusions limit the practical scope of the reference and preserve particular State competences.
Interaction and continuity rules (ss 9-10): Section 9 states the State’s intention that the National Credit legislation may be amended by Commonwealth Acts or Commonwealth Credit instruments at any time, whether the Commonwealth’s power is grounded in the adoption/reference under s 51(xxxvii) or other Commonwealth powers. Section 10 provides rules about what happens if the amendment reference terminates before the adoption ends, preserving laws made under the amendment reference and the operation of the National Credit legislation as affected by those laws unless the proclamation terminating the reference excludes specific amendments.
Repeals and transitional machinery (s 11; pt 4): The Act repeals the existing State credit statutes and regulations but carries forward specific elements including the Consumer Credit Fund (ss 17-20), continuity of maximum annual percentage rate protections for existing contracts (s 21), and continuing powers to pursue proceedings and investigations under the old regime for pre-commencement conduct (ss 22-25).
Transitional regulation power (s 27): The Act authorises transitional regulations that may be retrospective to the extent needed, but not backdated to disadvantage persons (s 27(3)-(4)), and requires such regulations to be declared as transitional regulations. That power expires two years after the regulation commences (s 27(6)).
State cooperation with ASIC (pt 5): The Minister may provide documents and assistance to ASIC despite any other law (s 28), and may enter agreements under which ASIC acts as an agent of the State (s 29), with such agreements effective despite any State law.
These concepts create a legal architecture that moves the substantive consumer-credit regulatory regime to Commonwealth instruments, while maintaining a package of savings, accountabilities and transitional arrangements at the State level.
Who it affects
The Act affects several identifiable groups, each in different ways and with varying compliance consequences.
Credit providers and lessors: The Act removes the old State consumer credit regime (see s 11) and places relevant credit and consumer-lease regulation within the National Credit legislation adopted under s 4. For existing credit contracts that were governed by the former State code, protections in relation to maximum annual percentage rates continue to apply as if the old provisions were still in force (s 21). Section 27A (inserted 2013) further preserves repealed part 6 for certain existing credit contracts. Credit providers therefore must track whether a contract is an “existing credit contract” (s 21, s 27A) and must continue to comply with legacy rate limitations, enforcement and investigative provisions where saved.
Consumers: Consumer entitlements under the National Credit Code will apply where the adoption and reference bring those matters under Commonwealth control, but for existing contracts the Act preserves certain State protections for the maximum annual percentage rate (s 21). Consumers who have claims or alleged offences under the repealed State legislation retain access to proceedings that were started before commencement (s 22) and, in some cases, to new proceedings for past conduct (s 23).
State regulators and officials: The chief executive and department retain a role over the continued Consumer Credit Fund (ss 17-20). The chief executive can approve payments from the continued fund for consumer engagement, education, research and to meet legal costs incurred by the chief executive or registrar in proceedings under the repealed Acts (s 19). The department is required to include a report on the operations of the continued fund in its annual report (s 20) and must keep accounts as part of departmental accounts (s 17(2)).
The Minister and State executive: The Minister is authorised to provide documents and assistance to ASIC (s 28) and to enter into arrangements under which ASIC performs functions as the State’s agent (s 29). Those arrangements have effect despite other State laws (s 29(2)).
ASIC: The corporate regulator gains access to State-held documents and assistance under s 28 and may be engaged by the State to perform functions or exercise powers as an agent under s 29. The Act anticipates ASIC exercising particular functions and powers as provided by the National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 (see s 29(3)).
Courts, inspectors and persons involved in proceedings: The Act preserves the right to continue proceedings and the operation of certain investigative parts of the repealed Act (ss 22-25). Individuals who were alleged to have committed offences under the repealed legislation prior to commencement remain subject to prosecution in many instances (s 23), though the Act disallows commencement of proceedings under certain parts of the repealed Act (s 23(3)).
Parties to contracts and documents referring to old State legislation: Section 26 maps references in instruments or contracts from the old State acts, codes and regulations to corresponding Commonwealth laws, which affects how contractual interpretation and regulatory reference are to be read after repeal.
Entities with financial obligations under the old Acts: Amounts that were payable under the repealed Acts are redirected to the continued Consumer Credit Fund (s 18). Credit providers and other obligated persons must continue to make payments where the old rules require them.
The Act therefore creates an environment in which credit industry participants must align with Commonwealth National Credit regulation for new matters, but also remain mindful of preserved State obligations, legacy proceedings and continuing State administrative arrangements.
Key duties and rights
The Act sets out a number of concrete duties and rights for State actors, credit market participants and others. The obligations are mostly procedural or transitional rather than creating new substantive consumer-rights per se.
Duty to adopt and manage temporal limits: The State is to adopt the National Credit legislation (s 4) and the Governor has a duty-like executive power to fix the day on which that adoption or the amendment reference will terminate (ss 5 and 8). Those powers determine whether the Commonwealth text remains adopted and whether the amendment reference continues to operate.
Duty to refer matters narrowly and only by express amendment: Under s 6, the State refers “referred credit matters” to the Commonwealth, but only to the extent of allowing the Commonwealth to make express amendments to the National Credit legislation. The reference is limited to matters not otherwise within Commonwealth legislative power (s 6(2)), and only to matters within State legislative powers.
Right and procedural preservation for existing contracts: For existing credit contracts the former maximum annual percentage rate provisions continue to apply as if not repealed (s 21). This creates a right for consumers under existing contracts to continue to invoke State-era rate protections and a corresponding duty on credit providers to respect those preserved caps and potential enforcement measures (s 21(2)-(3)).
Continuation of legal processes and prosecutorial reach: The Act allows existing proceedings that arose under former State legislation to continue after repeal (s 22). It also permits proceedings for offences committed before commencement to be started or continued despite operation of the Criminal Code, s 11, except that proceedings may not be started under a specified part of the repealed Act (s 23(2)-(3)).
Duty to maintain and report on the continued fund: The Consumer Credit Fund is continued and must be accounted for as part of departmental accounts, with deposits made into departmental financial institution accounts (s 17(1)-(3)). The department must report on the operations of the continued fund in its annual report (s 20). The chief executive has authority to change the fund’s name (s 17(4)).
Disbursement rights from the continued fund: The chief executive may approve payments from the continued fund for consumer engagement, policy research, education campaigns, surveys, and other consumer-related initiatives, and may use the fund for legal costs incurred by the chief executive or registrar in proceedings under repealed Acts (s 19(1)). The fund is taken to be closed when all amounts are expended (s 19(2)).
Transitional regulation-making authority: The Governor in Council has delegated regulatory power to make transitional regulations (s 27). Those regulations can make saving or transitional provisions required to facilitate the shift to the National credit legislation, and may be retrospective to commencement but only so far as they do not disadvantage persons by decreasing rights or imposing liabilities (s 27(3)-(4)). Transitional regulations must be declared as such and the power expires two years after the regulation commences (s 27(5)-(6)).
Duty to provide information and assistance to ASIC: The Minister is authorised, on initiative or at ASIC’s request, to provide documents and assistance that are reasonably required by ASIC in performing its functions under the National credit legislation (s 28(1)). This provision applies despite any other Act (s 28(2)) and may be exercised before the National credit legislation commences (s 28(3)).
Authority to enter agent agreements with ASIC: The Minister or a person authorised by the Minister may enter into agreements with ASIC for ASIC to perform functions or exercise powers as an agent of the State, with such agreements effective despite any State law (s 29(1)-(2)).
Mapping of references in other instruments: Section 26 operates to convert references in other instruments to their federal equivalents, which imposes interpretative duties on drafters and parties to contracts to treat old State references as references to the National Consumer Credit Protection Act 2009 or the National Credit Code, unless a contrary intention appears.
These duties and rights are primarily administrative and transitional. The Act preserves investigative, enforcement and procedural rights under the old legislation in specific circumstances (ss 15, 21-25), while transferring the substantive control of credit and consumer-lease regulation to the adopted National Credit legislation.
Penalties and enforcement
The Act itself contains limited express penalty provisions. Enforcement is primarily effected by preserving the operation of pre-existing State enforcement provisions and by enabling Commonwealth regulatory activity under the adopted National Credit legislation.
Preservation of enforcement rights and powers: The Act preserves the operation of enforcement-relevant parts of the repealed legislation for specific purposes. For example, it provides that the provisions of the former consumer credit legislation dealing with maximum annual percentage rates continue to apply to existing credit contracts, including enforcement, investigative powers and the taking of proceedings against a credit provider in relation to that rate (s 21(2)-(3)). Section 25 continues the application of parts 7 and 9 of the repealed Consumer Credit (Queensland) Act 1994 for monitoring, enforcement and administration generally. Section 24 allows the chief executive to use the repealed Act’s provisions for taking proceedings or action where a credit provider repeatedly engaged in unjust conduct before repeal.
Criminal and civil proceedings: Section 22 allows proceedings relating to matters arising under the former consumer credit legislation that were commenced before commencement but not finally decided to continue as if the provisions had not been repealed. Section 23 permits proceedings for offences alleged to have been committed before commencement to be started or continued despite the Criminal Code, s 11, except that proceedings may not be started under part 6, division 3 of the repealed Act. Those provisions therefore preserve the State’s prosecutorial reach for pre-commencement conduct, including civil and criminal remedies provided by the repealed laws.
Inspectors and investigatory appointments: Section 25 declares that a person holding an appointment as an inspector under the repealed Act is authorised to perform functions and exercise powers for the purposes of the division. That continues State investigatory capacity for legacy matters.
Court-awarded costs and legal fee recoupment: Amounts payable to the continued fund include costs awarded to the chief executive by a court in proceedings under the repealed Act and costs awarded to the registrar in proceedings under the repealed Credit Act 1987 (s 18(5)(e)-(f)). The chief executive may use the continued fund to meet legal fees or costs against the chief executive or registrar in proceedings under the repealed Acts (s 19(1)(f)-(g)).
Commonwealth enforcement via National Credit legislation: By adopting the National Credit legislation (s 4) and referring matters so that the Commonwealth may amend the National Credit legislation (s 6), the Act puts in place a regime under which enforcement powers will be exercised under Commonwealth law. Section 9 explicitly contemplates that the National Credit legislation may be amended by Commonwealth Acts or affected by Commonwealth Credit instruments, which may change enforcement mechanisms over time.
Absence of new State penalty rates: The Act does not itself create new penalty tariffs, pecuniary penalties, or enforcement offences beyond preserving the pre-existing State machinery. The specific sanctions and enforcement procedures for post-commencement regulatory activity are to be found within the National Credit legislation and in the preserved parts of the repealed Acts as saved by the transitional provisions.
In summary, enforcement under the Act is a mix of continuity for legacy matters using repealed-State powers and a transition toward Commonwealth enforcement under the National Credit legislation. Stakeholders should check the preserved provisions in the repealed Acts (as applied by ss 15 and 25) and the National Credit legislation for the concrete penalties and enforcement pathways relevant to particular conduct.
How it interacts with other laws
The Act is expressly framed as an interaction instrument between State law and Commonwealth law. It contains multiple rules that map legal relationships, save rights, and constrain references.
Constitutional mechanism: The primary interaction is constitutional. Section 4 adopts the relevant version of the National Credit legislation “within the meaning of section 51(xxxvii) of the Commonwealth Constitution.” Section 6 refers matters to the Commonwealth Parliament “to the extent of the making of laws with respect to such a matter by making express amendments of the National Credit legislation.” Sections 4 and 6 therefore rely on the mechanism in s 51(xxxvii) for State referral and adoption of Commonwealth legislative competence.
Mapping and conversion of references: Section 26 provides direct statutory conversion rules for existing instrument references. A reference to the Consumer Credit (Queensland) Act 1994 or its Code will, unless a contrary intention appears, have effect as a reference to the National Consumer Credit Protection Act 2009 or the National Credit Code respectively. Similarly, references to the former Regulations are read as references to regulations made for the National Consumer Credit Protection Act 2009. This provides certainty for contracts and instruments that refer to the old State laws.
Exclusions and preserved State areas: Section 7 lists matters that are not included in the reference. State taxes and imposts, the general land-recording system, priorities of interests in real property, and laws relating to the creation, holding or transfer of State statutory rights are preserved from Commonwealth takeover by reference. Thus, those State domains remain governed by State law and are not subject to the amendment-by-reference mechanism the Act provides.
Continuity with repealed Acts: The Act repeals certain State instruments (s 11) but contains saves and continuity provisions. For example, the repealed Credit Act 1987 retains some continuing effect for prescribed persons and contracts as provided by the repealed Act’s sections 21A and 21B (s 15). The Consumer Credit Fund continues in existence and is to be administered within departmental accounts (s 17). These interactions preserve ongoing administrative and financial relationships.
Interaction with Commonwealth instruments and amendments: Section 9 explicitly states the State’s intention that the National Credit legislation may be amended at any time by Commonwealth Acts or be affected by Commonwealth Credit instruments, whether the Commonwealth’s power is grounded in the referral/adoption under s 51(xxxvii) or in other Commonwealth legislative powers. That creates a pathway for Commonwealth actions to change the legal regime in the State.
Transitional regulation power and retrospective operation: Section 27 authorises transitional regulations to facilitate change to the National credit legislative regime and allows limited retrospective operation not earlier than the section’s commencement date. However, a transitional regulation cannot disadvantage a person by decreasing rights or imposing liabilities (s 27(4)). The section and any transitional regulation expire two years after the regulation commences (s 27(6)), limiting the temporal scope of this interaction tool.
State-Commonwealth operational cooperation: The Minister is authorised to provide documents and assistance to ASIC despite any other Act (s 28), and to arrange for ASIC to perform functions as an agent (s 29). Those provisions override conflicting State statutes and create a cooperative enforcement and regulatory relationship.
Non-derogation clauses and continuing proceedings: Where proceedings for pre-commencement conduct are continuing, the Act allows those to proceed under the old laws (ss 22-25), but it also specifies exceptions where proceedings may not be commenced under certain parts of the repealed Acts (s 23(3)). This balances non-derogation from existing rights with limited constraints.
Overall, the Act is designed to be an instrument of legislative co-ordination rather than a stand-alone substantive regulatory code. It maps old State references to Commonwealth equivalents, preserves specific State areas from reference, maintains certain State administrative functions and funds, and creates procedural mechanisms for Commonwealth-State cooperation and transition.
Amendment history
The text provided contains internal amendment notations and explicit insertion history in places; the Act’s structure and a couple of sections record later changes.
Original and commencement structure: The Act’s short title is stated in s 1. Section 2 provides that parts other than parts 2 and 5 commence on a day fixed by proclamation. Part 2 (adoption and reference) and part 5 (provisions relating to ASIC) are exceptions per s 2.
Repeals and commencement: Section 11 lists the State Acts and regulations repealed on the Act’s operation: Consumer Credit (Queensland) Act 1994 No. 51; Consumer Credit (Queensland) Special Provisions Regulation 2008 SL No. 222; Consumer Credit Regulation 1995 SL No. 410; Credit Act 1987 No. 52; and Credit Regulations 1988. These repeals are the backbone of the transition to National Credit legislation.
2013 amendment: Section 27A was inserted by the Liquor and Gaming (Red Tape Reduction) and Other Legislation Amendment Act 2013 (as indicated by the marginal note s 27A ins 2013 No. 25 s 31). Section 27A saves repealed part 6 in relation to existing credit contracts for the purpose of maximum annual percentage rates. The insertion shows legislative intervention after the original 2010 Act to preserve certain protections for a defined class of contracts.
Omitted sections: Part 6 (MAXIMUM ANNUAL PERCENTAGE RATE FOR CREDIT CONTRACTS) in the text shows that sections 30-34 are omitted and marked “om 2013 No. 25 s 32.” Those marginal notes indicate that the 2013 amendment removed or omitted those sections. The presence of those omission notations demonstrates that the Act has been altered in scope by the 2013 legislation.
Proclamation-driven changes: The Act builds in mechanisms for change by proclamation. Sections 5 and 8 allow the Governor to fix termination days for the adoption and the amendment reference respectively, and to revoke such proclamations if published before the fixed day. Section 10 contains rules that come into force depending on whether the amendment reference or adoption are terminated; those rules effectively accommodate future change.
Temporal limitation on transitional regulations: Section 27 and its expiry clause s 27(6) create a temporal limit for transitional regulations, with the transitional regulation power itself expiring two years after the regulation commences. That structure establishes a built-in sunset for a particular delegated power.
No further amendment history recorded in the provided text: Other than the explicit notation about the 2013 insertion and omission, the provided text does not list additional amendments, dates or subsequent legislative history. Readers should therefore consult the consolidated Act and official legislative history for any further changes beyond what the provided text records.
The Act therefore has a documented post-enactment modification in 2013 that both inserted a saving for existing contracts (s 27A) and omitted several sections in part 6, illustrating the Act’s amendment path and the legislature’s response to transitional concerns.
Litigation history
The Act text supplied does not contain or cite any judicial decisions, nor does it include references to case law or litigation outcomes. It preserves the operation of pre-existing civil and criminal proceedings relating to the repealed State legislation in a number of ways:
Continuation of proceedings: Section 22 permits any proceedings relating to matters under the former consumer credit legislation that were commenced before the commencement of the transitional part, but not finally decided, to continue as if the provisions had not been repealed. That provision ensures pending litigation under the old statutory regime is not extinguished by repeal.
Prosecutions for pre-commencement offences: Section 23 allows proceedings for offences alleged to have been committed before commencement to be started or continued despite the Criminal Code, s 11, subject to the exception that proceedings may not be started under part 6, division 3 of the repealed Consumer Credit (Queensland) Act 1994. This preserves prosecutorial options for certain pre-commencement conduct.
Enforcement and inspector powers: Section 25 confirms that parts 7 and 9 of the repealed Act and anything done under those parts continue to apply for monitoring and enforcement, and that inspectors appointed under the repealed Act are authorised to perform functions and exercise powers for the purposes of the transitional division.
Because the Act text supplied contains no judicial authorities or reported decisions, the reader should note two practical consequences arising from the statutory transitional regime:
Any existing litigation under the old State laws may continue in State courts, and outcomes of those proceedings may have continuing legal effect consistent with the saved provisions (ss 22-25).
The Act itself does not provide precedent, but it preserves the legal substrate for litigation under the old laws. For legal research or advice concerning specific litigation outcomes, one must search court databases and law reports for cases that engaged the repealed provisions or applied the transitional savings.
In short, the Act’s text preserves the jurisdictional and procedural base for legacy litigation but does not itself report or summarise subsequent litigation outcomes. Practitioners should check case law databases for decisions interpreting the transitional provisions or the substantive National Credit legislation as it applies in the State.
Gotchas
The Act contains several technical features that can produce practical traps for unwary practitioners, administrators and market participants. Below are concrete items to watch, using the section references in the Act.
Time-limited adoption and reference: Both the adoption under s 4 and the amendment reference under s 6 are expressly time-limited. Their termination dates are to be fixed by Governor’s proclamations under ss 5 and 8. A party cannot assume the adoption or the reference will remain in force indefinitely. The Governor may revoke a proclamation under specified conditions (ss 5(2)-(4), 8(2)-(4)), which creates potential uncertainty as to whether future Commonwealth amendments or instruments will continue to apply in the State.
Complex interaction between adoption and termination: Section 10 sets out a particular rule for the case in which the amendment reference terminates before the adoption. It preserves laws made under the amendment reference and the continued operation of the National Credit legislation as affected by such laws and Commonwealth Credit instruments, unless the proclamation terminating the amendment reference excludes particular amendments. This can make determining the applicable law intricate: practitioners must look at the textual state of the National Credit legislation at the relevant times and any proclamations that may have excluded amendments.
Excluded State matters: Section 7 excludes from the reference certain State areas such as taxes, land-recording systems and priorities in real property. If a credit transaction intersects with those excluded domains,for example, security interests in land,there can be hybrid regulatory risk where Commonwealth credit rules operate alongside unchanged State property or tax rules.
Transitional regulation retrospective power: Section 27 permits transitional regulations to be retrospective to a day not earlier than the commencement of s 27. Although s 27(4) prevents regulations from operating to a person’s disadvantage by decreasing rights or imposing liabilities, the possibility of retrospective transitional provisions may affect arrangements concluded in the transition window. Transitional regulations expire two years after commencement (s 27(6)), so the window is finite but operationally significant.
Continuing obligations to fund: The continued Consumer Credit Fund persists (s 17) and certain amounts remain payable into it (s 18). Credit providers and other entities that had obligations under repealed Acts must review whether continuing payment obligations exist. Failure to make required payments could create liability even after the repeal of the old statutory framework.
Narrow saving for existing contracts: The saving for maximum annual percentage rate protections applies to “existing credit contracts” as defined (s 21). Determining whether a contract qualifies may require analysis of the contract date and the precise drafting of the former consumer credit legislation. Section 27A (2013) further preserves repealed part 6 in relation to certain contracts, and practitioners must check both sections when advising on historic contracts.
Proceedings caveats: Section 23 allows criminal proceedings for offences alleged to have occurred before the transitional part’s commencement, but expressly disallows starting proceedings under part 6, division 3 of the repealed Act. Counsel must identify which parts of the repealed Act are preserved and which are off-limits for new proceedings.
Conversion of references in contracts and instruments: Section 26 maps old State references to Commonwealth statutes and regulations. However, it operates “unless the contrary intention appears.” That clause can produce disputes about whether parties intended to pick up the Commonwealth regime rather than retain a State-based contractual reference. Drafting clarity will be essential.
Omitted provisions and legislative change: The provided text shows that some sections in Part 6 were omitted in 2013 (marginal note “om 2013 No. 25 s 32”), and s 27A was inserted. That history indicates that the Act has been subject to targeted amendment. Practitioners must consult the consolidated Act and any further amending instruments to ensure they are relying on current law.
ASIC cooperation overrides other laws: Section 28 states that the Minister may provide documents or assistance to ASIC “despite any other Act or law.” That provision removes traditional legal obstacles to disclosure to ASIC, which may surprise data custodians who assumed State secrecy or confidentiality rules would prevent sharing.
These “gotchas” are matters of legal mechanics rather than policy assessment. They indicate areas where reading the interplay of provisions, proclamations, transitional regulations and the text of the National Credit legislation is necessary to determine specific rights, liabilities and compliance duties.
How to comply
Compliance under this Act is largely about transitional record-keeping, monitoring proclamations and Commonwealth instruments, and continuing to honour legacy obligations. The following practical checklist sets out concrete actions and who should take them, with statutory references.
For credit providers and lessors
Identify which of your contracts are “existing credit contracts” under s 21 and s 27A and document the contract dates and applicable State code provisions. Existing contracts retain the former maximum annual percentage rate protections and enforcement regime (s 21).
Review payment obligations that were payable under the repealed Acts, since many amounts remain payable to the continued Consumer Credit Fund (s 18). Continue remitting amounts where legally required and keep evidence of payments.
If you were under investigation or subject to proceedings arising under the repealed legislation, assume proceedings may continue (s 22). Coordinate with legal advisers to identify the precise statutory provisions preserved.
For consumer advocates and litigators
Where there are pending claims under the repealed State Acts, confirm whether proceedings fall within the preservation clauses in ss 22-25 and prepare to proceed in State courts if applicable.
For alleged offences committed before commencement, note that proceedings may be started or continued despite the Criminal Code, s 11, except where expressly barred (s 23).
For State regulatory officials and the department
Maintain the continued Consumer Credit Fund as part of departmental accounts and ensure deposits are placed in an appropriate departmental financial institution account (s 17(2)-(3)). Keep records sufficient for the annual reporting requirement under s 20.
Use the chief executive’s payment power under s 19 only for the listed purposes, and document the terms and reasons for each disbursement. Ensure legal costs drawn from the fund comply with s 19(1)(f)-(g).
Where inspectors are appointed under the repealed Act, ensure their appointments and powers are clearly recorded, since s 25 preserves their authority.
For the Minister and officials cooperating with ASIC
Establish procedures to respond to ASIC requests for documents and assistance under s 28, remembering the provision applies despite other Acts (s 28(2)) and can be used before the National credit legislation commences (s 28(3)).
If entering arrangements with ASIC for it to act as an agent (s 29), ensure such agreements are documented and that their scope of delegated functions is clear, noting that s 29(2) makes such agreements effective despite other State law.
For drafters and contract managers
Review agreements and instruments that refer to the old State Acts. Section 26 maps those references to Commonwealth equivalents unless a contrary intention appears. Consider adding express language to contracts dealing with future legislative change to avoid ambiguity.
Where contracts incorporate statutory obligations by reference, update standard form drafting to reference the National Consumer Credit Protection Act 2009 and the National Credit Code, and include transition clauses addressing legacy rate protections.
Regulatory monitoring and risk management
Monitor the Government Gazette for any proclamations under s 5 and s 8 fixing or revoking termination days for adoption and the amendment reference. Those proclamations determine the temporal bounds within which the Commonwealth text applies in the State.
Track Commonwealth amendments and Commonwealth Credit instruments referred to in s 9, and assess their effect on State regulated activity. The Act contemplates that Commonwealth Acts and Commonwealth Credit instruments can amend or affect the National Credit legislation in operation in the State.
Be aware of the expiry of the transitional regulation power under s 27. Transitional regulations must be declared as such and the power expires two years after the regulation commences (s 27(5)-(6)), limiting the time during which transitional saving measures can be legislated by regulation.
Record-keeping and audit precautions
Keep separate accounts for continued fund receipts and disbursements even if deposited in a general departmental account, and ensure annual reporting includes the operations of the continued fund (s 17(2); s 20).
Preserve documentation supporting any legal costs or costs awarded that are credited to or paid from the continued fund (s 18(5)(e)-(f); s 19(1)(f)-(g)).
In short, compliance under this Act is governed by transitional care: identify legacy rights and obligations (ss 15, 18, 21, 27A), maintain clear financial and administrative records for the continued fund (ss 17-20), monitor proclamations and Commonwealth instruments (ss 4-6; s 9), and ensure cooperative protocols with ASIC are in place (ss 28-29). Practitioners should cross-check the National Consumer Credit Protection Act 2009 and the National Credit Code for ongoing substantive regulatory duties post-adoption.
Section sec.4Adoption of National Credit legislation
(b) the National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 (Cwlth) ;
(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;
(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.
(a) the National Consumer Credit Protection Act 2009 (Cwlth) as originally enacted, and as later amended by the National Consumer Credit Protection Amendment Act 2010 (Cwlth) ; and
(b) the National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 (Cwlth) .
sec.4 Adoption of National Credit legislation
sec.4 Adoption of National Credit legislation
The relevant version of the National Credit legislation is adopted within the meaning of section 51 (xxxvii) of the Commonwealth Constitution.
The adoption has effect for a period—
beginning when this section commences; and
ending at the end of the day fixed under section 5 as the day on which the adoption is to terminate;
but no longer.
(sec.4-ssec.1) The relevant version of the National Credit legislation is adopted within the meaning of section 51 (xxxvii) of the Commonwealth Constitution.
(sec.4-ssec.2) The adoption has effect for a period— beginning when this section commences; and ending at the end of the day fixed under section 5 as the day on which the adoption is to terminate; but no longer.
(a) beginning when this section commences; and
(b) ending at the end of the day fixed under section 5 as the day on which the adoption is to terminate;
sec.5 Termination of adoption
sec.5 Termination of adoption
The Governor may, at any time, by proclamation published in the gazette, fix a day as the day on which the adoption terminates.
The Governor may, by proclamation published in the gazette, 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.
A revoking proclamation has effect only if published before the day fixed under subsection (1) .
The revocation of a proclamation published under subsection (1) does not prevent publication of a further proclamation under that subsection.
(sec.5-ssec.1) The Governor may, at any time, by proclamation published in the gazette, fix a day as the day on which the adoption terminates.
(sec.5-ssec.2) The Governor may, by proclamation published in the gazette, 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.
(sec.5-ssec.3) A revoking proclamation has effect only if published before the day fixed under subsection (1) .
(sec.5-ssec.4) The revocation of a proclamation published under subsection (1) does not prevent publication of a further proclamation under that subsection.
sec.6 Reference of matters
sec.6 Reference of matters
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.
The reference of a matter under subsection (1) has effect only—
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 Constitution of the Commonwealth); and
if and to the extent that the matter is included in the legislative powers of the Parliament of the State.
Despite any other provision, the reference has effect for a period—
beginning when this section commences; and
ending at the end of the day fixed under section 8 as the day on which the reference terminates;
but no longer.
(sec.6-ssec.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.
(sec.6-ssec.2) The reference of a matter under subsection (1) has effect only— 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 Constitution of the Commonwealth); and if and to the extent that the matter is included in the legislative powers of the Parliament of the State.
(sec.6-ssec.3) Despite any other provision, the reference has effect for a period— beginning when this section commences; and ending at the end of the day fixed under section 8 as the day on which the reference terminates; but no longer.
(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 Constitution of the Commonwealth); and
(b) if and to the extent that the matter is included in the legislative powers of the Parliament of the State.
(a) beginning when this section commences; and
(b) ending at the end of the day fixed under section 8 as the day on which the reference terminates;
sec.7 Matters excluded from reference
sec.7 Matters excluded from reference
A matter referred by section 6 (1) does not include—
the matter of making provision with respect to the imposition or payment of State taxes, duties, charges or other imposts, however described; or
the matter of making provision with respect to the general system for the recording of estates or interests in land and related information; or
the matter of providing for the priority of interests in real property; or
the matter of making a law that excludes or limits the operation of a State law, to the extent the State law makes provision with respect to the creation, holding, transfer, assignment, disposal or forfeiture of a State statutory right.
In this section—
forfeiture means confiscation, seizure, extinguishment, cancellation, suspension or any other forfeiture.
State law means—
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
the general law, being the principles and rules of common law and equity to the extent they have effect in the State from time to time.
State statutory right means a right, entitlement or authority 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 relating to—
credit covered by paragraph (a) of the definition of referred credit matter in section 3 ; or
a consumer lease covered by paragraph (b) of that definition.
(sec.7-ssec.1) A matter referred by section 6 (1) does not include— the matter of making provision with respect to the imposition or payment of State taxes, duties, charges or other imposts, however described; or the matter of making provision with respect to the general system for the recording of estates or interests in land and related information; or the matter of providing for the priority of interests in real property; or the matter of making a law that excludes or limits the operation of a State law, to the extent the State law makes provision with respect to the creation, holding, transfer, assignment, disposal or forfeiture of a State statutory right.
(sec.7-ssec.2) In this section— forfeiture means confiscation, seizure, extinguishment, cancellation, suspension or any other forfeiture. State law means— 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 the general law, being the principles and rules of common law and equity to the extent they have effect in the State from time to time. State statutory right means a right, entitlement or authority 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 relating to— credit covered by paragraph (a) of the definition of referred credit matter in section 3 ; or a consumer lease covered by paragraph (b) of that definition.
(a) the matter of making provision with respect to the imposition or payment of State taxes, duties, charges or other imposts, however described; or
(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
(c) the matter of providing for the priority of interests in real property; or
(d) the matter of making a law that excludes or limits the operation of a State law, to the extent the State law makes provision with respect to the creation, holding, transfer, assignment, disposal or forfeiture of a State statutory right.
(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
(b) the general law, being the principles and rules of common law and equity to the extent they have effect in the State from time to time.
(a) credit covered by paragraph (a) of the definition of referred credit matter in section 3 ; or
(b) a consumer lease covered by paragraph (b) of that definition.
sec.8 Termination of reference
sec.8 Termination of reference
The Governor may, at any time, by proclamation published in the gazette, fix a day as the day on which the amendment reference terminates.
The Governor may, by proclamation published in the gazette, 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.
A revoking proclamation has effect only if published before the day fixed under subsection (1) .
The revocation of a proclamation published under subsection (1) does not prevent publication of a further proclamation under that subsection.
(sec.8-ssec.1) The Governor may, at any time, by proclamation published in the gazette, fix a day as the day on which the amendment reference terminates.
(sec.8-ssec.2) The Governor may, by proclamation published in the gazette, 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.
(sec.8-ssec.3) A revoking proclamation has effect only if published before the day fixed under subsection (1) .
(sec.8-ssec.4) The revocation of a proclamation published under subsection (1) does not prevent publication of a further proclamation under that subsection.
sec.9 Amendment of Commonwealth law
sec.9 Amendment of Commonwealth law
For the avoidance of doubt, it is the intention of the Parliament of the State that—
the National Credit legislation may be expressly amended, or have its operation otherwise affected, at any time after the commencement of this Act 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; and
the National Credit legislation may be expressly amended, or have its operation otherwise affected, at any time after the commencement of this Act by provisions of Commonwealth Acts the operation of which is based on 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; and
the National Credit legislation may have its operation affected, otherwise than by express amendment, at any time by provisions of Commonwealth Credit instruments.
(a) the National Credit legislation may be expressly amended, or have its operation otherwise affected, at any time after the commencement of this Act 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; and
(b) the National Credit legislation may be expressly amended, or have its operation otherwise affected, at any time after the commencement of this Act by provisions of Commonwealth Acts the operation of which is based on 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; and
(c) the National Credit legislation may have its operation affected, otherwise than by express amendment, at any time by provisions of Commonwealth Credit instruments.
This is an opening excerpt, not the complete document.