Credit (Commonwealth Powers) (Transitional and Consequential Provisions) Act 2010

The Act is structured around a small number of recurring legal and administrative concepts. Those concepts drive what is changed and how:

• Referral day and referral mechanics. The Act defines “referral day” in s 16 as “the day on which the Credit (Commonwealth Powers) Act 2010 section 4 comes into operation.” Numerous provisions use that term to set the moment when state licensing and regulatory regimes stop operating, when licences expire or when applications must not be made (see, for example, ss 18(1A), 21(2A), 44(1A) as inserted throughout Part 4). The referral day is the hinge that shifts operational responsibility to Commonwealth law and to ASIC where arrangements are in place.

• Repeal and transitional preservation. Repeal of the Consumer Credit (WA) Act 1996 is effected (s 4). The Act expressly preserves the continued application of the repealed law to proceedings that are pending before courts and the State Administrative Tribunal on that date (s 5(1)-(2)). The preservation is specific: proceedings pending in court or SAT are to be dealt with under the repealed Act despite the repeal (s 5).

• Transfer and delegation by arrangement. The Act does not unilaterally transfer powers to ASIC without an agreement. It repeatedly inserts authorsations for the state officer (CEO or Commissioner) to make arrangements with ASIC to enable ASIC staff to perform functions or exercise powers (s 6(1)-(4), s 44AA(1)-(4), s 9A(1)-(4)). Subsections uniformly provide that ASIC may only exercise those functions and powers under the terms of an arrangement (e.g. s 6(4), s 44AA(4), s 9A(4)). The arrangement mechanism therefore leaves an element of state discretion or control over whether and how ASIC will operate in place of the state regulator.

• Information sharing. The Act inserts express powers to disclose or transfer information and records obtained under the repealed or amended state Acts to ASIC for purposes of administering or enforcing the Commonwealth law (s 7(2); s 44AB(2); s 9B(2)). Those provisions limit the purpose of disclosure expressly to administration or enforcement of the National Consumer Credit Protection Act 2009 (Commonwealth).

• Statutory renaming and reference updating. The Act updates cross-references in a number of enactments from the Consumer Credit (WA) Code to the National Credit Code (Commonwealth) where the National Code supersedes the state Code (see s 8, s 11, s 12, s 14).

• Licensing freeze and expiry. The Act creates an effective shutdown or wind-down of state licences: on and after the referral day, no new state licence applications may be made (s 18(1A) in Credit (Administration) Act; s 42(1A) style changes in Finance Brokers Control Act), licences cannot be renewed (s 31 as amended), licences may expire on referral day (s 46 insertion of 30(1A) in Part 4) and the Commissioner is prohibited from granting or refusing pending applications after the referral day (s 21(1A) & s 12(1A) equivalents). Section 27A in Part 4 expressly provides “No further grants of licences … on and after the referral day.”

• Financial account and reporting changes. The Act replaces the Consumer Credit Fund with a Consumer Credit Account established under the Financial Management Act 2006 and amends the payment and reporting provisions accordingly (ss 32-35). Sections change references to the Financial Management Act and the account name in payment and reporting provisions.

• Residual regulatory obligations until referral day. Many provisions are reworded so that obligations such as record-keeping, exhibitory obligations, audits and trust-account rules continue until the referral day and then cease (for example, ss 34, 40A, 41, 43-50 amendments in Part 4). The Act therefore phases state obligations to the point of transfer.

• Consequential technical amendments. A number of Acts are amended purely to maintain coherence with the referral: Supreme Court Act deletion of s 31(1) (s 13), Transport Co-ordination Act owner definition updated (s 14(2)), Door to Door Trading Act and Hire‑Purchase Act adjustments (ss 10-11) and similar consequential edits (Division 3 of Part 2 and Division 2 of Part 4).

These concepts show the Act’s method: it preserves legal continuity for certain proceedings, prevents new state licensing activity from starting after referral, substitutes Commonwealth licensing as the substantive regulatory framework, and provides for negotiated administrative arrangements and targeted information sharing between WA officials and ASIC.

The Act’s provisions create concentrated and diffuse effects across a set of identifiable stakeholders. The statutory text identifies the affected parties and the legal mechanisms that change their status.

Entities directly affected

• Licensed credit providers under WA law. The Act changes the meaning of “licensed credit provider” in the Credit Act 1984 to mean “the holder of an Australian credit licence for the time being in force under the National Credit Protection Act 2009 (Commonwealth)” (s 36(2)). That change moves the regulatory focus from a WA-issued licence to an Australian credit licence. Existing WA licensees face the referral day as a cut-off for WA licensing activity (see amendments to ss 9-15 and related sections in Part 3). Those with pending applications are placed in a special status “pending application” (s 16) and the Commissioner is forbidden from granting or refusing pending applications on or after the referral day (s 21(1A), s 12(1A)).

• Finance brokers and formerly licensed finance brokers. The Finance Brokers Control Act 1975 is amended heavily and ultimately repealed (s 80). The Act provides that on the referral day licences expire and no further licences are to be granted (s 27A; s 30(1A)). Provisions preserve certain pre-referral obligations and allow for the release of bonds and documents where the Commissioner is satisfied there is no likely undischarged liability (s 50 inserted s 35(6)). Sections dealing with trust accounts, audits and exhibitory requirements remain in effect up to the referral day, and are explicitly curtailed thereafter (see ss 48, 53-61, 66-72 and the multiple “have no effect” insertions in Part 4). Finance brokers therefore are directly affected by the cessation of the state licensing regime and the treatment of trust accounts and bonds.

• Consumers currently pursuing proceedings under the Consumer Credit (WA) Code. Proceedings that are pending on repeal (s 5) remain to be dealt with under the repealed Act. However, the CEO may make arrangements with ASIC for the conduct of such proceedings (s 6). Consumers in litigation or tribunal processes should expect the underlying substantive law to remain the WA Code for those proceedings, but administration or appearance may be handled by ASIC staff under arrangement.

• State officials and agencies. The CEO (defined in s 3) and the Commissioner under the Credit (Administration) Act gain express power to make arrangements with ASIC to have ASIC staff perform or exercise state functions, subject to arrangements (s 6(1)-(4), s 44AA). Those officials also gain express authority to disclose information to ASIC for Commonwealth enforcement purposes (s 7, s 44AB, s 9B). The Act alters who performs regulatory work and how records are transferred.

• Courts and the State Administrative Tribunal. The Act amends jurisdictional coupling by preserving some pending matters under old law (s 5) and by deleting certain provisions in the Supreme Court Act 1935 (for example deletion of s 31(1), s 13(2)). The State Administrative Tribunal is affected by the insertion/deletion of references to the Finance Brokers Act in the SAT Act schedule (s 82).

Indirectly affected parties

• Businesses that rely on finance-brokering services and credit-providing services may see administrative change in the identity of the regulator and in which licensing regime applies. The Act’s shift to Commonwealth licensing (s 36(2)) means regulated entities must be aware of Australian credit licence requirements rather than a WA licence.

• Entities holding or affected by trust account obligations or bonds. The Act preserves trust-account auditing requirements “under this Division” until the referral day (see numerous amendments in Part 4, e.g. ss 60, 61) and provides limited pathways for bonds to be released where no liabilities remain (s 50 inserted s 35(6)). Trustees, nominees and third-party stakeholders that rely on trust-account regimes are thus affected during the wind-down.

Who pays and who decides

• Who pays: licence-holders and applicants bear the immediate costs associated with fees, audits and compliance up to the referral day (ss 21, 53, 60). The Act contemplates refunds in specified circumstances, and regulations may provide for repayment of fees for periods falling within 12 months before the referral day (s 26(2B)). For finance brokers, the Commissioner may refund fees on expiry of licences under s 30(1A) by regulation (s 77 insertion after s 95(2)(d) providing for refunds).

• Who decides: the Commissioner and the CEO retain the state’s decision role up to the referral day for pending matters (s 21(1A) prevents grants or refusals after referral), but they may enter arrangements with ASIC to have ASIC assume functions and exercise powers by agreement (s 6(1)-(4); s 44AA(1)-(4); s 9A(1)-(4)). ASIC may only act where there is an arrangement. The Commissioner/CEO also decides whether to disclose information to ASIC under the information provisions (s 7; s 44AB; s 9B).

Timing and staged effect

• The staged commencement dates in the compilation table matter to affected parties. The main body of the Act (s 3 and Parts 2-4) commenced on 1 July 2010, meaning the initial transition of the Consumer Credit Act and many administrative changes took effect then. The final repeal of the Finance Brokers Control Act and associated transitions were effected in 2026 (compilation table) except for s 81 which will not come into operation (Other notes). Entities must map their compliance obligations against these commencement dates.

The statutory text thus identifies licence-holders, pending applicants, finance brokers, consumers in proceedings and state officials as the main impacted categories. The control over administration changes hands in substance from WA to Commonwealth law and potentially to ASIC staff, but only where arrangements are entered into and subject to the preservation mechanisms in the Act.

The Act modifies duties and rights by removing or suspending state licensing responsibilities, inserting powers of arrangement and information disclosure, and preserving certain rights under the pre-existing state law for pending matters. Key duties and rights can be grouped under licensing, enforcement and administrative transition, financial management, and recordkeeping obligations.

Licensing duties and rights

• Suspension of new state licence applications. On and after the referral day, no application for a credit provider’s licence is to be made under the Credit (Administration) Act 1984 (s 18(1A)), and equivalent prohibitions are inserted through Part 4 for the Finance Brokers Control Act (s 42(1A) style insertions, s 24(1A)). The practical effect is removal of the right to seek a WA-issued licence from that date.

• Pending applications protected but frozen. The Act defines “pending application” as an application for a credit provider’s licence which immediately before the referral day has neither been granted nor refused (s 16). The Commissioner is explicitly prohibited from granting or refusing a pending application on or after the referral day (s 21(1A) and s 12(1A)), thereby freezing the decision-making right in those pending matters.

• Expiry and non-renewal of state licences. Provisions inserted in the Finance Brokers Control Act provide that on the referral day every licence that has not already expired or been surrendered expires (s 46 inserting 30(1A)) and that no licence is to be renewed after the referral day (s 47 amending s 31(1)). The removed rights to continue holding a state licence are counterbalanced by the right to hold an Australian credit licence under Commonwealth law (as the Credit Act 1984 will now treat “licensed credit provider” as the holder of an Australian credit licence; s 36(2)).

Enforcement and proceedings

• Continuation of pending proceedings under old law. Proceedings that are pending in court or in the State Administrative Tribunal on repeal continue to be dealt with under the Consumer Credit (WA) Act 1996 despite its repeal (s 5(1)-(2)). This is a substantive preservation of parties’ existing procedural rights under the state code for those matters.

• Power for state officials to arrange with ASIC for conduct of proceedings. The CEO may make arrangements with ASIC about the conduct of any proceedings to which s 5 applies (s 6). The arrangement may provide for ASIC to exercise functions and powers of the CEO (s 6(2)-(3)), but ASIC must only act in accordance with an arrangement (s 6(4)). Thus the right to have a state official conduct the proceeding can be ceded to ASIC by arrangement, but only where an arrangement exists.

Administrative duties and information sharing

• Arrangements and delegation. The Commissioner and the CEO may make arrangements with ASIC to perform functions, or have ASIC staff perform functions and exercise powers, under the amended state statutes (s 44AA inserted for the Credit (Administration) Act; s 9A inserted for the Finance Brokers Control Act). Those arrangements are the formal mechanism to facilitate a cross-jurisdictional administrative handover. The statutory duty is on the state official to enter into or not to enter into such an arrangement; nothing in the text requires that an arrangement must be made.

• Information disclosure and record handing. The CEO and the Commissioner are authorised to disclose information obtained in connection with the administration or enforcement of the state Acts and to give copies of records in their possession to ASIC for the purpose of administering or enforcing the National Consumer Credit Protection Act 2009 (Commonwealth) (s 7(2); s 44AB(2); s 9B(2)). The right to share information is framed as a power to the state official, permitting operational transfer and cooperation.

Financial management duties and rights

• Consumer Credit Account and payments. The Act establishes a Consumer Credit Account under the Financial Management Act 2006 (s 32 inserting a new heading and s 44A amendments). Payments into and from the account are regulated by the amended s 44B and s 44C as cited; these provisions specify what moneys must be paid into the account and the approved appropriation paths for payments from it (ss 32-35).

• Fee statements and refunds. The Act modifies annual statement requirements and the entitlement to request statements in years beginning on or after the referral day (s 26(1)-(3A)). Regulations may provide for the Commissioner to repay part or all of a fee paid in respect of years commencing within 12 months before the referral day (s 26(1)(2B)). For finance brokers the Act inserts a power to refund fees on licence expiry under s 30(1A) (s 77 insertion after s 95(2)(d)).

Records, trust accounts and audits

• Trust-account auditing obligations remain in effect until referral day and are then curtailed. The Act amends trust-account audit language to make audits applicable “under this Division” until the referral day (e.g. ss 60(1) & (4), s 61) and deletes several trust-account statutory provisions post-referral day (ss 73-80 deleted). The Commissioner retains limited powers to release bonds where there are unlikely to be liabilities (s 50 inserted s 35(6)).

Rights preserved and limited

• The Act preserves rights to have existing proceedings decided under WA law (s 5), preserves obligations and powers relating to trust accounts up to the referral day, and allows for regulated wind-down relief such as bond release in defined circumstances (s 50 inserted s 35(6)). Conversely, the Act limits rights to apply for, renew or vary state licences after the referral day (numerous insertions and prohibitions across Parts 3 and 4).

In short, the Act replaces the state licensing regime with a Commonwealth licensing baseline, delegates or arranges for ASIC administration where agreements exist, preserves certain ongoing proceedings and provides mechanisms to wind up residual financial and administrative state functions. Duties and rights for regulated entities therefore shift from state statutory regimes to the Commonwealth’s Australian credit licensing system and ASIC oversight, with limited residual state duties preserved until the referral day.

The Act itself primarily effects structural and administrative change; it does not introduce a novel offence scheme within WA but it alters the enforcement architecture and the locus of enforcement powers. The statutory text focuses on delegation, preservation, and the freezing of state licensing functions rather than on creating new penalties. Enforcement implications follow from the transfer of regulatory competence to Commonwealth law and the possibility for ASIC to exercise functions and powers under arrangements.

Enforcement architecture and division of powers

• Transfer by arrangement. The Act repeatedly authorises arrangements whereby ASIC may perform functions and exercise powers of the CEO or Commissioner in relation to administration and enforcement (s 6(1)-(3), s 44AA(1)-(3), s 9A(1)-(3)). Those provisions explicitly require that ASIC cannot perform a function conferred by those subsections except in accordance with an arrangement (s 6(4), s 44AA(4), s 9A(4)). Enforcement, in the sense of power to investigate, commence proceedings and apply sanctions, therefore shifts from WA officials to ASIC only when arrangements are in place. The Act does not automatically vest enforcement powers in ASIC; it creates the legal pathway for such vesting by agreement.

• Preservation of pending proceedings. Proceedings pending under the Consumer Credit (WA) Code remain to be dealt with under that Act despite repeal (s 5(1)-(2)). This preserves the statutory enforcement entitlements available under the WA Code for those matters until their final resolution.

• Information transfer to enable Commonwealth enforcement. The CEO and Commissioner are specifically authorised to disclose information and give copies of records in their possession or control to ASIC for the purpose of administration or enforcement of the National Consumer Credit Protection Act 2009 (Commonwealth) (s 7(2); s 44AB(2); s 9B(2)). This facilitates Commonwealth enforcement by providing ASIC with evidence and records gathered under state authority.

What the Act does not do as a matter of text

• It does not itself prescribe new penalties for conduct that was previously regulated under the state Acts; rather, enforcement of consumer credit conduct is to be driven by Commonwealth law once the referral occurs and licence-holders are Australian credit licence holders (s 36(2)). Consequently, the substantive penalty regimes and sanctions applicable will be those under the National Consumer Credit Protection Act 2009 (Commonwealth) and the National Credit Code, administered by ASIC where the arrangements permit.

Practical enforcement consequences (text-based)

• A state regulator retains enforcement authority for matters and periods that fall under the old WA law until the referral day or until specific matters are transferred by arrangement. That means that a party subject to a WA regulation may still face state-based enforcement for conduct in the pre-referral period or for matters explicitly retained under the transitional provisions (s 5, examples in Parts 3 and 4).

• ASIC’s ability to act in enforcement roles depends on a formal arrangement; the Act imposes a statutory safeguard that ASIC “must not perform” the functions or exercise the powers conferred except in accordance with an arrangement (s 6(4); s 44AA(4); s 9A(4)). The text therefore contemplates negotiated administrative responsibility rather than automatic takeover. Where an arrangement exists, ASIC may exercise the same functions and powers as the state official in relation to specified proceedings (s 6(3)).

Regulatory continuity and mutual assistance

• The Act enables the Commissioner and CEO to share records and information with ASIC for enforcement purposes (s 7(2); s 44AB(2); s 9B(2)). That creates a practical enforcement continuity channel. Enforcement actions initiated by ASIC under Commonwealth law can thus be supported by information originally obtained by WA officials.

• The Act also contemplates the release of bonds and trust-account winding where there is no longer any anticipated liability (Finance Brokers Control Act inserted s 35(6) as amended). That is an administrative mechanism that reduces enforcement friction where there are no remaining enforceable claims, but it requires a reasonable satisfaction test by the Commissioner.

Summary

The Act’s penal and enforcement significance is primarily structural: it designates the Commonwealth licensing regime and ASIC as the future enforcement locus, preserves in situ state enforcement for pending matters under the repealed WA law, and establishes statutory routes for information transfer and administrative arrangements to enable ASIC to act where agreed. It leaves the content of penalties and sanctions to the National Consumer Credit Protection Act 2009 (Commonwealth), while controlling the administrative handover by arrangement and limiting post-referral state licence activity by explicit statutory prohibition.

This Act is expressly designed to operate as a transitional and consequential instrument aligning Western Australian statutes with the Commonwealth National Consumer Credit Protection Act 2009 and the National Credit Code. The text contains many explicit cross-references and amendments to other WA statutes and sets up interaction channels with Commonwealth law and ASIC.

Direct statutory interactions

• National Consumer Credit Protection Act 2009 and National Credit Code. The Act’s raison d’être is to give effect to the Commonwealth referral and the National Credit Code. It replaces references to the WA Consumer Credit Code with references to the National Credit Code in several Acts (s 8 amending Bills of Sale Act 1899; s 11 amending Hire‑Purchase Act 1959; s 12 amending Road Traffic Act 1974; s 14 amending Transport Co‑ordination Act 1966). The Act also redefines “licensed credit provider” in the Credit Act 1984 as the holder of an Australian credit licence under the Commonwealth Act (s 36(2)).

• Transfer of regulatory competence by arrangement with ASIC. The Act creates statutory mechanisms for state officers to make arrangements with ASIC allowing ASIC to exercise state functions and powers in relation to specified proceedings (s 6, s 44AA, s 9A). That is a form of cooperative regulatory interaction: the state does not automatically cede competence but may do so by agreement. The purposes of permitted information disclosure are expressly confined to administration or enforcement of the National Consumer Credit Protection Act 2009 (s 7(2); s 44AB(2); s 9B(2)).

Amendments to specific WA statutes

• Credit Act 1984 and Credit (Administration) Act 1984. The Act makes targeted amendments to align the state credit administration framework with the Commonwealth regime, including stopping new WA licence applications (s 18(1A)), altering fee and account provisions (s 26), deleting Parts III and IV of the Credit (Administration) Act (ss 28-29), inserting new administrative arrangement and information-sharing sections (ss 30 and 44AA-44AB), and changing the definition of licensed credit provider in the Credit Act to mean Australian credit licence holder (s 36).

• Finance Brokers Control Act 1975. This Act is subject to significant amendments that phase out the state licensing scheme for finance brokers, adjust trust-account and audit requirements up to the referral day, insert arrangement and information-sharing provisions with ASIC (s 9A/9B), and ultimately repeal the Finance Brokers Control Act (s 80). A series of provisions make many subsections “have no effect” on and after the referral day to curtail state regulatory mechanics (see Division 1 of Part 4, numerous insertions of “On and after the referral day, subsections ... have no effect”).

• Supreme Court Act 1935. The Act deletes section 31(1) of the Supreme Court Act (s 13(2)). Practitioners should examine the deleted provision’s prior role in procedural or jurisdictional matters to understand downstream consequences for enforcement and appeals.

• State Administrative Tribunal Act 2004. The Act removes the Finance Brokers Control Act from Schedule 1 of the SAT Act (s 82), reflecting the repeal and indicating that SAT lists will be updated in line with the new regulatory allocation.

Financial and administrative statute interactions

• Financial Management Act 2006. The Act transfers the Consumer Credit Fund mechanism to a Consumer Credit Account established under the Financial Management Act 2006 (s 32-35), changing the statutory payment and reporting references previously linked to the Financial Administration and Audit Act 1985. This changes the framework for how funds collected or appropriated under the credit statutes are handled administratively.

Consequential interactions and consistency edits

• Multiple WA statutes updated to reflect the new national regime. These include the Bills of Sale Act 1899 (s 8), Door to Door Trading Act 1987 (s 10), Hire‑Purchase Act 1959 (s 11), Road Traffic Act 1974 (s 12), Transport Co‑ordination Act 1966 (s 14), Housing Societies Act 1976 (s 78), and Settlement Agents Act 1981 (s 79). These edits replace the WA Code references with National Credit Code references or otherwise align definitions to recognise Australian credit licences and interstate/territory/Commonwealth licences.

Limitations and conditions

• Arrangements required for ASIC to exercise state functions. A recurring condition in the Act is that ASIC must not act unless there is an arrangement (s 6(4); s 44AA(4); s 9A(4)). This preserves a procedural interface between WA and Commonwealth law and ensures the WA executive has a gatekeeping role in delegating functions.

• Purpose-limited information sharing. Information disclosure powers are purpose-limited to administration or enforcement of the Commonwealth National Consumer Credit Protection Act 2009 (s 7(2); s 44AB(2); s 9B(2)). This creates an explicit nexus rather than an unconstrained open-records transfer.

• Savings and transitional provisions preserve pending state-law matters. Pending proceedings remain governed by the old WA law, limiting the immediate reach of the Commonwealth law to newly commenced matters (s 5).

Net effect

The Act reconfigures the regulatory framework by aligning WA statutory references and administrative arrangements with Commonwealth law and by creating the legal means for ASIC to undertake enforcement and administration functions in relation to consumer credit matters, subject to arrangements and information-sharing constraints. It also updates state financial administration provisions to align with the Financial Management Act 2006. Practitioners must read the Act as a bridge statute: it provides the transition from state to Commonwealth regulation and prescribes the limits, mechanisms and timing for that transition.

The Act itself sets out a comprehensive set of amendments across multiple WA statutes and contains internal amendment provisions that alter WA Acts structurally. The compilation table and Other notes provide additional chronological and operative context.

Internal amendments effected by this Act

• Repeals. The Consumer Credit (Western Australia) Act 1996 is repealed by s 4. The Finance Brokers Control Act 1975 is repealed by s 80. Numerous other statutory sections in WA Acts are deleted or reworded (for example, deletion of Part III and Part IV of the Credit (Administration) Act 1984 at ss 28-29; deletion of ss 36-38 and ss 73-80 in the Finance Brokers Control Act per ss 51 and 70).

• New insertions. The Act inserts new arrangement and information sections: s 6 (arrangements with ASIC) and s 7 (information) for the Consumer Credit Act repeal regime; ss 30 and 44AA-44AB in the Credit (Administration) Act; ss 9A-9B in the Finance Brokers Control Act. It also inserts a “Consumer Credit Account” regime replacing a Consumer Credit Fund (ss 32-35).

• Definition changes. The Act inserts and amends numerous definitions, the most material being “referral day” and “pending application” in s 16, and inserts ASIC as a defined actor in various Acts (s 16(2) and s 38(2)).

• Licensing procedures. The Act amends licensing and application provisions across the Credit (Administration) Act and the Finance Brokers Control Act to freeze new applications after referral day and to extinguish renewal rights (see ss 17-27 in Part 3 and multiple amendments in Part 4 such as s 27A, s 30(1A), s 31, s 32).

Commencement milestones

• The compilation table records the timing of commencement. Sections 1 and 2 commenced with Royal Assent on 25 June 2010. Section 3 and Parts 2-4 commenced on 1 July 2010 (Gazette 30 Jun 2010 p. 3185). Part 5 (other than s 81) commenced on 6 March 2026 (SL 2026/18 cl. 2), per the compilation table. The staggered commencement is important: the main transitions started in 2010, with the final repeal of the Finance Brokers Control Act delivered in 2026.

Notable post-enactment note

• The Act contains an express note that s 81 will not come into operation because the Act it purported to amend was repealed by the Statutes (Repeals and Minor Amendments) Act 2025 s 3(d) (Other notes). That demonstrates a later statute affected the intended operation of a provision of this Act and prevents s 81 from ever commencing.

Consequential amendments to other laws

• The Act made many consequential edits to WA statutes. For example, s 8 amends the Bills of Sale Act 1899, s 10 amends the Door to Door Trading Act 1987, s 11 amends the Hire‑Purchase Act 1959 and s 13 deletes s 31(1) of the Supreme Court Act 1935. In Part 4 Division 2 the Act amends the Housing Societies Act 1976 (s 78) and the Settlement Agents Act 1981 (s 79).

• Financial administration changes moved earlier references to the Financial Administration and Audit Act 1985 to the Financial Management Act 2006 in respect of the consumer credit account (ss 32-35). Those changes modernise the state financial reference points.

Practical reading of the amendment history

• The Act’s amendment history is recorded in the compilation table and Other notes. The compilation table documents the principal commencement dates and shows the staged nature of the legislative change. The Other notes record the non-operation of s 81 due to an intervening repeal. Together these records form the immediate amendment history: the Act amended numerous WA Acts in 2010 and completed the repeal of the Finance Brokers Act in 2026, with a later statutory development preventing one listed provision coming into operation.

A reader should therefore treat the Act as a 2010 transitional instrument, with final clean-up and repeal of the finance-brokers regime consummated in 2026, and one planned amendment (s 81) prevented by a later repeal statute.

The primary source text (this Act and its compilation notes) does not record or cite judicial decisions that interpret or apply the Act. The statute itself preserves existing proceedings under the repealed Consumer Credit (WA) Act 1996 for matters that were pending at repeal (s 5), but the Act does not disclose any cases or judicial outcomes. There are no cases named in the statute text.

What the Act records relevant to litigation risk and process

• Preservation of pending proceedings. Section 5(1)-(2) preserves proceedings that on repeal were pending before courts or the State Administrative Tribunal to be dealt with under the Consumer Credit (WA) Act 1996 despite repeal. This is a statutory non-derogable saving which prevents immediate canonical conflict over which law governs pending disputes. For practitioners, this is a specific litigation-relevant provision: it maintains the pre-existing legal regime for those matters and prevents a retroactive or disruptive change in applicable law for those cases.

• Administrative conduct by ASIC. Section 6 provides that the CEO may make arrangements with ASIC about the conduct of proceedings preserved by s 5. Subsection 6(3) confers the functions and powers of the CEO on ASIC in relation to those proceedings (subject to the constraint in s 6(4) that ASIC must act only in accordance with an arrangement). Where such an arrangement exists, parties may face ASIC conduct instead of state department staff during litigation. The Act does not itself authorise the transfer of substantive jurisdiction from the court to ASIC; instead it allows ASIC staff to perform certain administrative conduct of proceedings under arrangement.

• Deletion of Supreme Court provision. Section 13 deletes section 31(1) of the Supreme Court Act 1935. Because the Act does not reproduce the deleted text within itself, readers must consult the prior version of s 31(1) to determine the implication for litigation, if any. The Act does not note any interpretive decisions about that deletion.

• No statutory list of cases. The Act contains no internal references to cases and the compilation notes include commencement and non-operation notes but do not include a litigation history or bibliographic list of judicial consideration.

Implications for research and practice

• To identify litigation history one must search independently for cases that rely on or interpret the transitional provisions (for example, any case where s 5 or s 6 has been invoked to determine whether ASIC conducted or took over proceedings). The statutory text itself does not supply such a record.

• Practitioners should be alert to the potential for interlocutory or procedural disputes arising from the freeze on pending applications, the role of ASIC where arrangements exist, and the preservation of old-law rights in pending matters. Those are the likely loci of litigation risk, but any report of case law would need independent confirmation from court databases or legal reporting services because the Act’s text contains no case law references.

In short, the Act contains litigation-relevant transitional rules and administrative handover mechanisms, but the primary source contains no recorded litigation history or named cases.

This Act creates a number of technical traps and timing-sensitive compliance issues that practitioners, compliance officers and advisers should watch closely. The following are specific “gotchas” grounded in the statutory text.

1. Pending applications are frozen but not decided. The Act defines “pending application” (s 16) and instructs that the Commissioner is neither to grant nor refuse a pending application on or after the referral day (s 21(1A), s 12(1A) equivalents). That means applicants may have paid fees, undergone assessment, and expected a decision, but the state Commissioner is statutorily prevented from concluding those matters after the referral day. Practitioners must watch whether regulations provide refund mechanisms (s 26(2B) and s 77 insertion) and whether an arrangement with ASIC changes the administrative path for resolving pending matters (s 6).

2. ASIC cannot act absent an arrangement. Although the Act repeatedly contemplates ASIC performing state functions, each power is explicitly conditioned on an arrangement: “ASIC must not perform a function or exercise a power … except in accordance with an arrangement under this section” (s 6(4); s 44AA(4); s 9A(4)). Do not assume automatic transfer. If a client expects ASIC to take over a matter, check whether an arrangement exists and its scope.

3. Licences expire on the referral day for finance brokers. Section 46 (inserting s 30(1A) in Part 4) states that on the referral day every licence which has not already expired or been surrendered expires. That is a hard expiry. If a business relies on an ongoing WA finance-broker licence, it must obtain an Australian credit licence under Commonwealth law to continue operating. There is a limited refund and bond-release mechanism, but it requires compliance with the Commissioner’s reasonable satisfaction test (s 50 inserted s 35(6)).

4. Trust-account and audit obligations end or are limited at referral day. The Act makes auditing, trust-account and related statutory duties applicable “under this Division” up to the referral day (see s 60(1) & (4), s 61). Multiple provisions are deleted or made ineffective on and after referral day (ss 73-80 deleted). Practitioners must preserve evidence and ensure audits are completed in accordance with the transitional wording, because statutory audit obligations will cease or change.

5. Fee statements and possible refunds depend on regulation. Section 26(2B) authorises regulations to provide for partial or full repayment of fees paid for years commencing within 12 months before the referral day. Similarly, the insertion after s 95(2)(d) (s 77) provides for refunds when licences expire under s 30(1A). These are not automatic entitlements; they depend on regulatory instruments. Clients should not assume automatic reimbursement.

6. Information sharing is purpose-limited. The CEO or Commissioner may disclose information to ASIC, but only for the purpose of administration or enforcement of the National Consumer Credit Protection Act 2009 (Commonwealth) (s 7(2); s 44AB(2); s 9B(2)). If information is required for other purposes, different legal bases might be needed.

7. Superseded references moved to Commonwealth instruments. The statute replaces references to the WA Consumer Credit Code with National Credit Code references across multiple Acts (s 8, s 11, s 12, s 14). Practitioners should check whether statutory defences or exemptions that applied under the WA Code are retained or mapped in the Commonwealth regime; the transitional mappings in s 9(3) of Part 2 provide a crosswalk for certain provisions (s 9(3) replacing s 19B(2)), but the mapping is partial and must be read carefully.

8. Not all parts commenced at the same time. The compilation table shows staged commencements: initial parts in 2010 and the final Part 5 enactments in 2026 (compilation table). Section 81 will not come into operation because the Act it sought to amend was later repealed (Other notes). Always verify which provisions are in force for the relevant date.

9. Deletion of Supreme Court section. The Act deletes s 31(1) of the Supreme Court Act 1935 (s 13(2)), which may have knock-on effects for procedure or jurisdictional rules previously invoked in credit matters. Do not assume prior procedural rules remain; check the updated Supreme Court Act.

10. Misreading “arrangement” as delegation. The Act’s repeated use of “arrangement” might be read casually as a mere administrative convenience. However, the statutory wording limits ASIC’s role to the precise functions and powers authorised in any arrangement and requires that ASIC act only under that arrangement (s 6(4)). Practitioners should obtain and examine the arrangement document where relevant, because the Act does not itself detail the scope of any particular arrangement.

In sum, the main practical risks are timing and sequencing: license expiries and freezes tied to the referral day, reliance on regulatory instruments for refunds and detailed wind-up procedures, and the need to confirm whether ASIC arrangements exist and their scope. Missing those timelines can result in sudden operational incapacity or loss of statutory protections.

Compliance under this transitional framework requires a combination of regulatory mapping, immediate procedural steps and ongoing monitoring. Below are concrete actions and legal checks that regulated entities, advisers and state officials should follow, with the specific statutory hooks noted.

1. Map licence status and key dates

• Identify whether you hold a WA credit provider licence or a finance-broker licence, the expiry date of that licence, and whether you have any pending applications as defined by s 16. The Act prohibits applications and renewals on and after the referral day (s 18(1A) and related insertions in Part 4). If a licence is due to expire on or shortly before the referral day, plan for conversion to an Australian credit licence under the National Consumer Credit Protection Act 2009 (Commonwealth) because the Credit Act 1984 will treat licensed credit provider as an Australian credit licence holder (s 36(2)).

2. Check pending applications and seek clarity on status

• For any pending application (s 16 definition), note that the Commissioner is prohibited from granting or refusing pending applications on or after the referral day (s 21(1A) and s 12(1A)). Seek written confirmation of status and whether the application will be carried forward to Commonwealth licensing. Review whether regulation provides for refunds for fees relating to years commencing within 12 months before the referral day (s 26(2B)).

3. Preserve and organise records for transfer and enforcement

• The Act authorises the CEO and Commissioner to disclose information to ASIC and to give copies of records in their possession or control for administration or enforcement of the Commonwealth Act (s 7(2); s 44AB(2); s 9B(2)). Entities should organise and preserve records, including trust-account records, audit reports and licence files, and have robust records-retention policies so that any required transfer to ASIC can be effected quickly and without loss of evidentiary material.

4. Audit and trust-account compliance up to the referral day

• For finance brokers, ensure trust‑account and audit compliance continues up to the referral day. The Act preserves audit obligations “under this Division” until referral day (e.g. s 60). Complete outstanding audits and reconcile trust accounts, because many trust-account provisions are deleted or made ineffective on and after referral day (ss 73-80 deleted). If you rely on a bond or guarantee, review conditions for release under s 50 inserted s 35(6).

5. If you are a regulator or state official, document and negotiate arrangements with ASIC

• CEO and Commissioner may make arrangements with ASIC for ASIC to perform state functions and exercise powers (s 6(1)-(3); s 44AA(1)-(3); s 9A(1)-(3)). If you are an official, document the precise scope of any arrangement, including which functions, which staff will perform them, data‑handling, confidentiality safeguards, and applicability to pending proceedings. Remember the statutory constraint that ASIC must act only in accordance with an arrangement (s 6(4); s 44AA(4); s 9A(4)).

6. Review consequences of licence expiry and plan for Australian credit licensing

• Licences expire on the referral day for finance brokers (s 30(1A) inserted by s 46) and state licences may not be renewed (s 31 as amended). If the business needs to continue providing credit or broking services, apply for an Australian credit licence under the Commonwealth Act. Ensure compliance with Australian credit licensing obligations and be prepared for potential differences in substantive obligations, enforcement scope and consumer protections.

7. Monitor whether refunds or repayments are made available by regulation

• The Act contemplates regulatory refund powers (s 26(2B) for Consumer Credit Account fees and s 77 insertion for refunds on licence expiry under s 30(1A)). These are not automatic entitlements. Monitor WA regulations and Ministerial decisions for implementation of refunds and prepare documentation to claim any refund.

8. For parties in pending proceedings, obtain clarity on applicable law and representation

• If you are a litigant in a proceeding pending under the repealed WA Code (s 5), confirm with the court or tribunal whether the matter will continue under the WA Code and whether ASIC will be conducting any administrative aspects by arrangement (s 6). If ASIC is likely to be involved, coordinate representation and evidence transfer arrangements accordingly.

9. Update public-facing compliance materials and signage where required

• The Act modifies exhibitory duties for licence-holders up to referral day and curtails them afterwards in multiple places (see Part 4 amendments such as s 42 and s 44 with “have no effect” insertions). Entities should check whether any public-facing signage, licence display or document wording must be updated in the transition period.

10. Legal and regulatory watch: monitor commencement schedules and related Commonwealth developments

• The Act’s staged commencement (compilation table) means that a provision may already be in force while others are not. Verify the applicable commencement for every provision you rely upon. Also monitor related Commonwealth regulatory guidance and ASIC instruments to see how the Commonwealth licensing, enforcement and transition will be implemented in practice.

Practical checklist for compliance officers

• Inventory licences, renewal dates and pending application status (with copies of all application materials).
• Ensure trust-account records are reconciled and audits completed for periods up to referral day.
• Preserve all records that may be disclosed to ASIC and maintain a chain-of-custody and data-security protocol for any records transfer.
• Confirm whether ASIC arrangements exist and, if so, obtain the terms and scope of those arrangements from the relevant WA office.
• Prepare for the Australian credit licensing regime: gap analysis of obligations, consumer-protection compliance, and staff training.
• Watch for regulations creating refund mechanisms and immediately prepare refund claims with supportive documentation if refunds are announced.
• Update internal compliance manuals and client notifications to reflect the changed regulatory framework.

By following these concrete steps and checking the cited statutory provisions, regulated entities and advisers can manage the operational changes the Act imposes and reduce transitional regulatory risk.