8References to the National Consumer Credit Protection Regulations 2010

8 References to the National Consumer Credit Protection Regulations 2010

From 1 April 2010 to immediately before 1 July 2010, the references in paragraphs 16 (3) (b) and 20 (a) of these Regulations to the National Consumer Credit Protection Regulations 2010 are taken to be references to those Regulations as if those Regulations had commenced.

Note Paragraph 6 (2) (a) of the Act provides that the regulations may prescribe matters of a transitional nature (including matters of an application or saving nature) arising out of the enactment of the National Credit Act.

8A Modification of item 11 of Schedule 1 to the Act (Creation of equivalent rights and liabilities to those that existed before commencement under carried over provisions of the old Credit Code)

For subsection 6 (3) of the Act, item 11 of Schedule 1 to the Act is modified by inserting after subitem (3) and before the note:

“(4) A procedure, proceeding or remedy in relation to the substituted right or liability may also be brought after commencement under a provision of the National Credit Act or another law of the Commonwealth, as if that provision applied to the conduct or circumstances that gave rise to the old right or liability.”.

8B Modification of item 12 of Schedule 1 to the Act (Creation of equivalent rights and liabilities to those that existed before commencement under repealed provisions of the old Credit Code)

For subsection 6 (3) of the Act, item 12 of Schedule 1 to the Act is modified by inserting after subitem (4) and before the note:

“(5) A procedure, proceeding or remedy in relation to the substituted right or liability may also be instituted after commencement under a provision of the National Credit Act or another law of the Commonwealth, as if the provision applied to the conduct or circumstances that gave rise to the old right or liability.”.

8C Modification of item 18 of Schedule 1 to the Act (Treatment of contracts or other instruments made before commencement)

For subsection 6 (3) of the Act, subitem 18 (1) of Schedule 1 to the Act is modified by:

(a) omitting the words “The National Credit Act (other than Chapter 3 and the new Credit Code) does not apply”; and

(b) inserting the words “The National Credit Act (other than Chapter 3, Chapter 4 (other than Part 4-3), Chapters 5 to 7 and the new Credit Code) does not apply”.

8D Modification of item 20 of Schedule 1 to the Act (Application of Schedule 2 to this Act in relation to contracts or other instruments)

For subsection 6 (3) of the Act, subitem 20 (1) of Schedule 1 to the Act is modified by:

(a) omitting the words “Schedule 2 to this Act (which deals with registration) does not apply”; and