279 Request by person appearing at hearing that it take place in public
280 Certain hearings to take place in private
281 ASIC may restrict publication of certain material
282 Who may be present when hearing takes place in private
283 Involvement of person entitled to appear at hearing
284 Power to summon witnesses and take evidence
285 Proceedings at hearings
285A Proceedings at hearings
286 ASIC to take account of evidence and submissions
287 Reference to court of question of law arising at hearing
288 Protection of ASIC members etc.
Part 6‑5A—Penalties for offences
Division 1—Introduction
288A Guide to this Part
Division 2—Penalty for committing an offence
288B Penalty for committing an offence
288C Penalty applicable to an offence committed by an individual
288D Penalty applicable to an offence committed by a body corporate
288E Meaning of benefit derived and detriment avoided because of an offence
288F Where is the penalty for an offence specified?
288G If no penalty is specified
Part 6‑5B—Infringement notices
Division 1—Introduction
288H Guide to this Part
Division 2—Infringement notices
288J When an infringement notice may be given
288K Provisions subject to an infringement notice
288L Matters to be included in an infringement notice
288M Payment period
288N Extension of time to pay amount
288P Payment by instalments
288Q Withdrawal of an infringement notice
288R Effect of payment of amount
288S Effect of this Part
Part 6‑6—Offences under this Chapter
Division 1—Introduction
289 Guide to this Part
Division 2—Offences
290 Contraventions of requirements made under this Chapter
291 False information
293 Disrupting hearings
294 Concealing books relevant to investigation
295 Self‑incrimination
296 Legal professional privilege
297 Powers of court relating to contraventions of this Chapter
Part 6‑7—ASIC’s powers in relation to contraventions of this Chapter
Division 1—Introduction
298 Guide to this Part
Division 2—ASIC’s powers in relation to contraventions of this Chapter
299 Application of this Part
300 Orders by ASIC relating to credit contracts, mortgages, guarantees or consumer leases
301 Orders under this Part
Part 6‑7A—Product intervention orders
Division 1—Introduction
301A Guide to this Part
Division 2—Product intervention orders
301B Definitions
301C Application of product intervention orders
301D ASIC may make product intervention orders
301E Significant detriment to consumers
301F ASIC to consult before making product intervention orders
301G Commencement and duration of product intervention orders
301H Extension of product intervention orders
301J Amendment of product intervention orders
301K Revocation of product intervention orders
301L ASIC to issue public notice of product intervention orders
301M Remaking product intervention orders
301N Product intervention orders may require notification
301P Enforcement of product intervention orders
Part 6‑8—Evidentiary use of certain material
Division 1—Introduction
302 Guide to this Part
Division 2—Evidentiary use of certain material
303 Statements made at an examination: proceedings against examinee
304 Statements made at an examination: other proceedings
305 Weight of evidence admitted under section 304
306 Objection to admission of statements made at examination
307 Copies of, or extracts from, certain books
308 Report under Part 6‑1
309 Exceptions to admissibility of report
310 Material otherwise admissible
Part 6‑9—Miscellaneous provisions relating to compliance and enforcement
Division 1—Introduction
311 Guide to this Part
Division 2—Miscellaneous provisions relating to compliance and enforcement
312 Requirement made of a body corporate
313 Evidence of authority
314 Giving documents to natural persons
315 Place and time for production of books
316 Application of Crimes Act and Evidence Act
317 Allowances and expenses
318 Expenses of investigation under Part 6‑1
319 Recovery of expenses of investigation
320 Compliance with this Chapter
321 Effect of this Chapter
322 Enforcement of undertakings
An Act relating to credit, and for related purposes
Chapter 1—Introduction
Part 1‑1—Introduction
1 Short title
This Act may be cited as the National Consumer Credit Protection Act 2009.
2 Commencement
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
Commencement information
Column 1 Column 2 Column 3
Provision(s) Commencement Date/Details
Sections 1 and 2 and anything in this Act not elsewhere covered by this table The day on which this Act receives the Royal Assent. 15 December 2009
Sections 3 to 337 and Schedule 1 A single day to be fixed by Proclamation.However, if any of the provision(s) do not commence within the period of 6 months beginning on the day on which this Act receives the Royal Assent, they commence on the first day after the end of that period. 1 April 2010(see F2010L00301)
Note: This table relates only to the provisions of this Act as originally passed by both Houses of the Parliament and assented to. It will not be expanded to deal with provisions inserted in this Act after assent.
(2) Column 3 of the table contains additional information that is not part of this Act. Information in this column may be added to or edited in any published version of this Act.
3 The National Credit Code
Schedule 1 (which is the National Credit Code) has effect as a law of the Commonwealth.
Part 1‑2—Definitions
Division 1—Introduction
4 Guide to this Part
This Part is about the terms that are defined in this Act (other than the National Credit Code). (For the terms that are defined in the National Credit Code, see section 204 of that Code.)
Division 2 has the Dictionary (see section 5). The Dictionary is a list of every term that is defined in this Act (other than the National Credit Code). A term will either be defined in the Dictionary itself, or in another provision of this Act. If another provision defines the term, the Dictionary will have a signpost to that definition.
Division 3 has definitions relating to the meaning of credit activity.
Division 4 has some other definitions that apply across this Act (other than the National Credit Code).
Division 2—The Dictionary
5 The Dictionary
(1) In this Act (other than the National Credit Code):
acts as an intermediary: see section 9.
ADI has the same meaning as in subsection 5(1) of the Banking Act 1959.
adverse publicity order: see section 182.
AFCA scheme has the same meaning as in the Corporations Act 2001.
affairs, in relation to a person that is a body corporate, has the same meaning as in Part 3 of the ASIC Act.
affidavit includes affirmation.
ancillary offence, in relation to another offence, means:
(a) an offence against section 6 of the Crimes Act 1914; or
(b) an ancillary offence within the meaning of the Criminal Code;
that relates to the other offence.
annual percentage rate has the same meaning as in section 27 of the National Credit Code.
annual turnover, of a body corporate during a 12‑month period, means the sum of the values of all the supplies that the body corporate, and any body corporate related to the body corporate, have made, or are likely to make, during the 12‑month period, other than:
(a) supplies made from any of those bodies corporate to any other of those bodies corporate; or
(b) supplies that are input taxed; or
(c) supplies that are not for consideration (and are not taxable supplies under section 72‑5 of the A New Tax System (Goods and Services Tax) Act 1999); or
(d) supplies that are not made in connection with an enterprise that the body corporate carries on; or
(e) supplies that are not connected with Australia.
Expressions used in this definition that are also used in the A New Tax System (Goods and Services Tax) Act 1999 have the same meaning as in that Act.
appeal includes:
(a) an application for a new trial; and
(b) proceedings to review or call in question the proceedings, decision or jurisdiction of a court or judge.
approved code of conduct means a code of conduct approved by ASIC by legislative instrument under section 238A, and includes a replacement code of conduct approved under that section.
APRA means the Australian Prudential Regulation Authority.
ASIC means the Australian Securities and Investments Commission.
ASIC Act means the Australian Securities and Investments Commission Act 2001, and includes instruments made under that Act.
ASIC member means a member of ASIC within the meaning of the ASIC Act.
ASIC staff member means a staff member within the meaning of subsection 5(1) of the ASIC Act.
associate: see section 15A.
Australian business law means a law of the Commonwealth, or of a State or Territory, that is a law that regulates, or relates to the regulation of, business or persons engaged in business.
Australian credit licence: see subsection 35(1).
Australian credit licence number means the number given to a licence under section 43.
Australian financial services licence has the same meaning as in the Corporations Act 2001.
authorised, in relation to a credit activity: see subsection 35(2).
avoidance purpose: see subsection 323A(2).
banker has the same meaning as in section 9 of the Corporations Act 2001.
banking group means a relevant group of bodies corporate (within the meaning of the Banking Act 1959) that includes a body corporate covered by paragraph 133CN(1)(a) (about large ADIs).
banned from engaging in a credit activity under a law of a State or Territory: a person is banned from engaging in a credit activity under a law of a State or Territory if:
(a) the person holds a State or Territory credit licence that is suspended (otherwise than by request of the person); or
(b) the person has held a State or Territory credit licence that has been cancelled within the last 7 years (otherwise than by the person’s request); or
(c) an order of a court made under a law of a State or Territory prohibits the person from engaging in a credit activity; or
(d) the person is otherwise prohibited under a law of a State or Territory from engaging in a credit activity.
banning order means an order made under subsection 80(1).
beneficiary of a guarantee means a person who is a party to a guarantee and who has the benefit of the guarantee, and includes a person who is a beneficiary of a guarantee because of section 10.
benefit derived and detriment avoided:
(a) because of an offence—has the meaning given by section 288E; and
(b) because of a contravention of a civil penalty provision—has the meaning given by section 167D.
body regulated by APRA has the same meaning as in subsection 3(2) of the Australian Prudential Regulation Authority Act 1998.
book includes:
(a) a register; and
(b) any other record of information; and
(c) financial reports or financial records, however compiled, recorded or stored; and
(d) a document.
business day has the same meaning as in section 204 of the National Credit Code.
buy now pay later arrangement has the same meaning as in section 13D of the National Credit Code.
buy now pay later contract has the same meaning as in section 13D of the National Credit Code.
carried on in this jurisdiction has a meaning affected by section 12.
civil penalty provision: a subsection of this Act (or a section of this Act that is not divided into subsections) is a civil penalty provision if:
(a) the words “civil penalty” and one or more amounts in penalty units are set out at the foot of the subsection (or section); or
(b) another provision of this Act specifies that the subsection (or section) is a civil penalty provision.
coastal sea:
(a) in relation to Australia—means:
(i) the territorial sea of Australia; and
(ii) the sea on the landward side of the territorial sea of Australia and not within the limits of a State or internal Territory;
and includes the airspace over, and the sea‑bed and subsoil beneath, any such sea; and
(b) in relation to a State or Territory—means so much of the coastal sea of Australia as is within the area described in Schedule 1 to the Offshore Petroleum and Greenhouse Gas Storage Act 2006 under the heading that refers to that State or Territory.
code of conduct means a code of conduct that relates to any aspect of the activities of:
(a) licensees; or
(b) credit representatives;
being activities in relation to which ASIC has a regulatory responsibility.
commission includes any financial or other benefit in the nature of a commission.
Note: Commissions may be conflicted remuneration: see Division 4 of Part 3‑5A.
Commonwealth body means:
(a) an Agency (within the meaning of the Public Service Act 1999); or
(b) a body, whether incorporated or not, established for a public purpose by or under a law of the Commonwealth; or
(c) a person:
(i) holding or performing the duties of an office established by or under a law of the Commonwealth; or
(ii) holding an appointment made under a law of the Commonwealth.
Commonwealth credit legislation means this Act and the Transitional Act.
conflicted remuneration: see sections 158N and 158NA.
constitutional corporation means a corporation to which paragraph 51(xx) of the Constitution applies.
constitutional trade and commerce means trade and commerce:
(a) between Australia and places outside Australia; or
(b) between the States; or
(c) between a State and a Territory; or
(d) between 2 Territories; or
(e) within a Territory.
constrained document: see subsection 160CA(1).
constrained information: see subsection 160CA(1).
consumer means a natural person or a strata corporation.
consumer lease means a consumer lease to which Part 11 of the National Credit Code applies.
consumer lease for household goods has the same meaning as in section 204 of the National Credit Code.
continuing credit contract has the same meaning as in section 204 of the National Credit Code.
contravention:
(a) in relation to an offence against a law—includes an ancillary offence relating to the offence against the law; and
(b) in relation to a civil penalty provision—has a meaning affected by section 169.
control has the meaning given by section 16A.
core obligation has the meaning given by subsection 50A(3).
credit has the same meaning as in subsection 3(1) of the National Credit Code.
credit activity: see section 6.
credit assistance: see section 8.
credit book: see subsection 227(4).
credit card: see subsection 133BA(2).
credit card contract: see subsection 133BA(1).
credit card termination entitlement: see subsection 133BT(3).
credit contract has the same meaning as in section 4 of the National Credit Code.
credit information has the same meaning as in the Privacy Act 1988.
credit legislation means:
(a) this Act; and
(b) the Transitional Act; and
(c) Division 2 of Part 2 of the ASIC Act and regulations made for the purpose of that Division; and
(d) any other Commonwealth, State or Territory legislation that covers conduct relating to credit activities (whether or not it also covers other conduct), but only in so far as it covers conduct relating to credit activities.
credit limit of a credit contract means the maximum amount of credit that may be provided under the contract.
credit limit increase invitation, in relation to a credit card contract: see subsection 133BE(5).
credit limit reduction entitlement: see subsection 133BF(3).
credit provider:
(a) when used in Part 3‑2CA—has the same meaning as in the Privacy Act 1988; and
(b) otherwise—has the same meaning as in section 204 of the National Credit Code, and includes a person who is a credit provider because of section 10 of this Act.
credit registers: see section 213.
credit reporting body has the same meaning as in the Privacy Act 1988.
credit representative: see subsections 64(2) and 65(2).
credit representative number means the number given to a credit representative under section 72.
credit service: see section 7.
criminal procedure: see section 205.
data standards means standards made by the Registrar under section 212H.
debtor has the same meaning as in section 204 of the National Credit Code.
declaration of contravention means a declaration made under section 166.
designated secrecy provision has the meaning given by subsection 212N(3).
director has the same meaning as in the Corporations Act 2001.
disclosure framework means the disclosure framework made by the Registrar under section 212L.
disqualification order means an order of the court under section 86.
document registers: see section 219.
electronic communication has the same meaning as in the Electronic Transactions Act 1999.
eligible credit account: see section 133CO.
eligible credit reporting body: see subsection 133CN(2).
eligible licensee: see subsection 133CN(1).
enforceable code provision means a provision of an approved code of conduct identified by ASIC under subsection 238A(2).
engage in conduct means:
(a) do an act; or
(b) omit to perform an act.
evidential burden, in relation to a matter, means the burden of adducing or pointing to evidence that suggests a reasonable possibility that the matter exists or does not exist.
examination, when used in Chapter 6 (which deals with compliance and enforcement), means an examination of a person pursuant to a requirement made under section 253.
expenses, in relation to an investigation under Part 6‑1, includes costs and expenses incurred by ASIC in relation to proceedings brought under section 275 as a result of the investigation.
Federal Court means the Federal Court of Australia.
financial hardship information has the same meaning as in the Privacy Act 1988.