8Regulations

8 Regulations

(1)  The Governor may make regulations containing provisions of a savings or transitional nature consequent on –

(a) the enactment of this Act; or

(b) the transition from the application of the provisions of the former consumer credit legislation to the application of provisions of the National Credit legislation.

(2)  If such regulations so provide, the regulations have effect despite any other provision of this Act.

(3)  Regulations made under subsection (1) may take effect when this section commences or on a later day specified in the regulations, whether the day so specified is before, on or after the day on which the regulations are made.

(4)  To the extent to which regulations take effect under subsection (3) on a day that is earlier than the day on which the regulations are made, the regulations do not operate to the disadvantage of a person by –

(a) decreasing the person's rights; or

(b) imposing liabilities on the person.