Credit (Administration) Regulations 2014

Authorised by the Chief Parliamentary Counsel Authorised Version i Credit (Administration) Regulations 2014 S.R. No. 140/2014 TABLE OF PROVISIONS Regulation Page 1 Objective 1 2 Authorising provision 1 3 Commencement 1 4 Revocation 1 5 Embargo notice 2 __________________ SCHEDULE—Embargo Notice 3 ═══════════════ ENDNOTES 5 -- 1 of 6 -- Authorised by the Chief Parliamentary Counsel Authorised Version 1 STATUTORY RULES 2014 S.R. No. 140/2014 Credit (Administration) Act 1984 Credit (Administration) Regulations 2014 The Governor in Council makes the following Regulations: Dated: 23 September 2014 Responsible Minister: HEIDI VICTORIA Minister for Consumer Affairs YVETTE CARISBROOKE Clerk of the Executive Council 1 Objective The objective of these Regulations is to revoke the Credit (Administration) (Committee) Regulations 2006 and to prescribe an embargo form authorised by the Credit (Administration) Act 1984. 2 Authorising provision These Regulations are made under section 95 of the Credit (Administration) Act 1984. 3 Commencement These Regulations come into operation on 15 December 2014. 4 Revocation The Credit (Administration) (Committee) Regulations 2006 1 are revoked. -- 2 of 6 -- S.R. No. 140/2014 Credit (Administration) Regulations 2014 2 Authorised by the Chief Parliamentary Counsel 5 Embargo notice For the purposes of section 32(1) of the Credit (Administration) Act 1984 an embargo notice must be in the form set out in the Schedule. __________________ r. 5 -- 3 of 6 -- S.R. No. 140/2014 Credit (Administration) Regulations 2014 3 Authorised by the Chief Parliamentary Counsel SCHEDULE Regulation 5 EMBARGO NOTICE Credit (Administration) Act 1984 Section 32 1 The item described below has been embargoed under section 32 of the Credit (Administration) Act 1984. 2 Section 32(2) provides that a person who knows that an embargo notice relates to a thing and who— (a) sells; or (b) leases; or (c) without the written consent of the inspector who issued the embargo notice, moves; or (d) transfers; or (e) otherwise deals with— the thing or any part of the thing is guilty of an offence and liable to a penalty not exceeding 10 penalty units. 3 Section 32(3) provides that it is a defence to a prosecution for such an offence to prove that the thing or part of the thing was moved for the purpose of protecting and preserving it. 4 Section 32(4) provides that despite anything in any other Act, a sale, lease, transfer or other dealing with a thing in contravention of that section is void. Description of embargoed item: This notice has been— † served on (name) † affixed to the item described above Sch. -- 4 of 6 -- S.R. No. 140/2014 Credit (Administration) Regulations 2014 4 Authorised by the Chief Parliamentary Counsel Signature of inspector Name of inspector Telephone number Date Time ═══════════════ Sch. -- 5 of 6 -- S.R. No. 140/2014 Credit (Administration) Regulations 2014 5 Authorised by the Chief Parliamentary Counsel ENDNOTES 1 Reg. 4: S.R. No. 32/2006. Endnotes -- 6 of 6 --