Credit (Commonwealth Powers) Act 2010

i Credit (Commonwealth Powers) Act 2010 No. 11 of 2010 TABLE OF PROVISIONS Section Page PART 1—PRELIMINARY 1 1 Purposes 1 2 Commencement 2 PART 2—ADOPTION AND REFERENCE OF MATTERS 3 3 Definitions 3 4 Adoption of National Credit legislation 5 5 Termination of adoption 5 6 Reference of matters 5 7 Matters excluded from reference 6 8 Termination of reference 7 9 Amendment of Commonwealth law 8 10 Effect of termination of amendment reference before termination of adoption of Commonwealth Acts 9 PART 3—EXCLUDED MATTER AND TRANSITIONAL AND CONSEQUENTIAL MATTERS 11 Division 1—Preliminary 11 11 Definitions 11 Division 2—Excluded Matter 12 12 Credit law excluded matter 12 Division 3—Transitional provisions 13 13 Court proceedings, old Code and old regulations 13 14 Court proceedings, old Act 13 15 Tribunal proceedings 13 16 Cessation of application of old Code 14 17 Certain powers and functions may be conferred on ASIC 14 18 Custody of registers 15 19 Provision of information to ASIC 15 -- 1 of 35 -- Section Page ii Division 4—Amendment of Consumer Credit (Victoria) Act 1995 15 20 Repeal of certain provisions of the Consumer Credit (Victoria) Act 1995 15 21 Section 38 substituted 16 38 Money to be paid to Consumer Credit Fund 16 22 Amendment of the Consumer Credit (Victoria) Act 1995 16 38AA Definitions 17 Division 5—Amendment of the Credit Act 1984 18 23 Definitions 18 Division 6—Amendment of the Credit (Administration) Act 1984 18 24 Definitions 18 25 Definitions in Credit Act 1984 19 5 Definitions in Credit Act 1984 19 26 Definition 19 27 Section 12 substituted 19 12 Powers of Director 19 28 Powers of Director in relation to proceedings 19 29 Secrecy 20 30 Definitions 20 31 Documents available for inspection 21 32 Requirements to produce documents, supply information, answer questions 21 33 Confidentiality 22 34 The Fund 22 35 Giving of notices 23 36 Repeal of certain provisions 23 Division 7—Amendment of the Business Licensing Authority Act 1998 23 37 Definitions 23 38 Functions of Authority 23 39 Secrecy 23 40 Part 3 definitions 24 41 Effect of suspension 24 Division 8—Amendment of the Duties Act 2000 24 42 Amendments to Duties Act 2000 24 Division 9—Amendments to the Fair Trading Act 1999 24 43 Definitions 24 44 Amendment of references to Consumer Credit (Victoria) Code 25 45 Amendment of definition of consumer dispute 25 46 Amendment of definition of licence 25 47 Repeal of provisions relating to registrations 25 -- 2 of 35 -- Section Page iii 48 Confidentiality 26 49 Amendment of reference to Consumer Credit (Victoria) Act 1995 26 Division 10—Amendment of the Goods Act 1958 26 50 Amendment of the Goods Act 1958 26 Division 11—Interpretation of Legislation Act 1984 27 51 Amendment of the definition of Code 27 52 Repeal of section 38C 27 Division 12—Amendment of the Motor Car Traders Act 1986 27 53 Application of the National Credit Code to certain agreements for the purchase of motor cars 27 54 Insertion of new section after section 43 28 43A Credit Law excluded matter 28 55 Repeal of section 49 28 56 Determination of claims 28 Division 13—Amendment of the Partnership Act 1958 29 57 New section 28A inserted 29 28A Credit law excluded matter 29 Division 14—Amendment of the Supreme Court Act 1986 29 58 Amendment of reference to Consumer Credit (Victoria) Code 29 Division 15—Amendment of the Victorian Civil and Administrative Tribunal Act 1998 30 59 Repeal of references to Consumer Credit (Victoria) Code 30 PART 4—REPEAL OF CERTAIN PROVISIONS 31 60 Repeal of this Part and Divisions 4 to 15 of Part 3 31 ═══════════════ ENDNOTES 32 -- 3 of 35 -- 1 Credit (Commonwealth Powers) Act 2010 † No. 11 of 2010 [Assented to 30 March 2010] The Parliament of Victoria enacts: PART 1—PRELIMINARY 1 Purposes The Purposes of this Act are to— (a) adopt the National Consumer Credit Protection Act 2009 of the Commonwealth (as amended) and the National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 of the Commonwealth, and to refer certain matters Victoria -- 4 of 35 -- Part 1—Preliminary Credit (Commonwealth Powers) Act 2010 No. 11 of 2010 2 relating to the provision of credit and certain other financial transactions to the Parliament of the Commonwealth, for the purposes of section 51(xxxvii) of the Constitution of the Commonwealth; and (b) to make related provisions and transitional and consequential provisions. 2 Commencement (1) Subject to subsection (2), this Act comes into operation on a day or days to be proclaimed. (2) Section 20(2) comes into operation on 1 January 2011. __________________ s. 2 -- 5 of 35 -- Part 2—Adoption and Reference of Matters Credit (Commonwealth Powers) Act 2010 No. 11 of 2010 3 PART 2—ADOPTION AND REFERENCE OF MATTERS 3 Definitions In this Act— adoption means the adoption under section 4(1); amendment reference means the reference under section 6(1); Commonwealth Credit instrument means any instrument (whether or not of a legislative character) that is made or issued under the National Credit legislation; express amendment of the National Credit legislation means the direct amendment of the text of the National Credit legislation (whether by the insertion, omission, repeal, substitution or relocation of words or matter) by another Commonwealth Act or by an instrument under a Commonwealth Act, but does not include the enactment by a Commonwealth Act of a provision that has or will have substantive effect otherwise than as part of the text of the National Credit legislation; National Credit legislation means— (a) the National Consumer Credit Protection Act 2009 of the Commonwealth; and (b) the National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 of the Commonwealth— as in force from time to time; s. 3 -- 6 of 35 -- Part 2—Adoption and Reference of Matters Credit (Commonwealth Powers) Act 2010 No. 11 of 2010 4 referred credit matter means a matter relating to either of the following— (a) credit, being credit the provision of which would be covered by the expression "provision of credit to which this Code applies" in the relevant version of the National Credit Code; (b) consumer leases, being consumer leases each of which would be covered by the expression "consumer lease to which Part 11 applies" in the relevant version of the National Credit Code; relevant version of the National Credit Code means the text of Schedule 1 to the National Consumer Credit Protection Act 2009 of the Commonwealth as originally enacted, and as later amended by the National Consumer Credit Protection Amendment Act 2010 of the Commonwealth; relevant version of the National Credit legislation means— (a) the National Consumer Credit Protection Act 2009 of the Commonwealth as originally enacted, and as later amended by the National Consumer Credit Protection Amendment Act 2010 of the Commonwealth; and (b) the National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 of the Commonwealth. s. 3 -- 7 of 35 -- Part 2—Adoption and Reference of Matters Credit (Commonwealth Powers) Act 2010 No. 11 of 2010 5 4 Adoption of National Credit legislation (1) The relevant version of the National Credit legislation is adopted within the meaning of section 51(xxxvii) of the Constitution of the Commonwealth. (2) The adoption has effect for a period— (a) beginning when this section commences; and (b) ending at the end of the day fixed under section 5 as the day on which the adoption is to terminate— but no longer. 5 Termination of adoption (1) The Governor in Council may, at any time, by proclamation published in the Government Gazette, fix a day as the day on which the adoption under section 4 is to terminate. (2) The Governor in Council may, by proclamation published in the Government Gazette, revoke a proclamation published under subsection (1), in which case the revoked proclamation is taken (for the purposes of section 4) never to have been published. (3) A revoking proclamation has effect only if published before the day fixed under subsection (1). (4) The revocation of a proclamation published under subsection (1) does not prevent publication of a further proclamation under that subsection. 6 Reference of matters (1) Subject to section 7, any referred credit matter is referred to the Parliament of the Commonwealth, but only to the extent of the making of laws with respect to such a matter by making express amendments of the National Credit legislation. s. 4 -- 8 of 35 -- Part 2—Adoption and Reference of Matters Credit (Commonwealth Powers) Act 2010 No. 11 of 2010 6 (2) The reference of a matter under subsection (1) has effect only— (a) if and to the extent that the matter is not included in the legislative powers of the Parliament of the Commonwealth (otherwise than by a reference under section 51(xxxvii) of the Constitution of the Commonwealth); and (b) if and to the extent that the matter is included in the legislative powers of the Parliament of the State. (3) Despite any other provision, the reference has effect for a period— (a) beginning when this section commences; and (b) ending at the end of the day fixed under section 8 as the day on which the reference is to terminate— but no longer. 7 Matters excluded from reference (1) A matter referred by section 6(1) does not include— (a) the matter of making provision with respect to the imposition or payment of State taxes, duties, charges or other imposts, however described; or (b) the matter of making provision with respect to the general system for the recording of estates or interests in land and related information; or (c) the matter of providing for the priority of interests in real property; or (d) the matter of making a law that excludes or limits the operation of a State law, to the extent that the State law makes provision s. 7 -- 9 of 35 -- Part 2—Adoption and Reference of Matters Credit (Commonwealth Powers) Act 2010 No. 11 of 2010 7 with respect to the creation, holding, transfer, assignment, disposal or forfeiture of a State statutory right. (2) In this section— forfeiture means confiscation, seizure, extinguishment, cancellation, suspension or any other forfeiture; State law means— (a) any Act of the State or any instrument made under such an Act, whenever enacted or made and as in force from time to time; or (b) the general law, being the principles and rules of common law and equity to the extent that they have effect in the State from time to time; State statutory right means a right, entitlement or authority that is granted by or under any Act of the State or any instrument made under such an Act, whenever enacted or made and as in force from time to time, other than a right, entitlement or authority that relates to— (a) credit covered by paragraph (a) of the definition of referred credit matter in section 3; or (b) a consumer lease covered by paragraph (b) of that definition. 8 Termination of reference (1) The Governor in Council may, at any time, by proclamation published in the Government Gazette, fix a day as the day on which the amendment reference terminates. (2) The Governor in Council may, by proclamation published in the Government Gazette, revoke a proclamation published under subsection (1), in s. 8 -- 10 of 35 -- Part 2—Adoption and Reference of Matters Credit (Commonwealth Powers) Act 2010 No. 11 of 2010 8 which case the revoked proclamation is taken (for the purposes of section 6) never to have been published. (3) A revoking proclamation has effect only if published before the day fixed under subsection (1). (4) The revocation of a proclamation published under subsection (1) does not prevent publication of a further proclamation under that subsection. 9 Amendment of Commonwealth law For the avoidance of doubt, it is the intention of the Parliament of the State that— (a) the National Credit legislation may be expressly amended, or have its operation otherwise affected, at any time after the commencement of this Act by provisions of Commonwealth Acts the operation of which is based on any legislative powers that the Parliament of the Commonwealth has on account of a reference of any matters, or the adoption of the relevant version of the National Credit legislation, under section 51(xxxvii) of the Constitution of the Commonwealth; and (b) the National Credit legislation may be expressly amended, or have its operation otherwise affected, at any time after the commencement of this Act by provisions of Commonwealth Acts the operation of which is based on legislative powers that the Parliament of the Commonwealth has apart from a reference of any matters, or the adoption of the relevant version of the National Credit legislation, under section 51(xxxvii) of the Constitution of the Commonwealth; and s. 9 -- 11 of 35 -- Part 2—Adoption and Reference of Matters Credit (Commonwealth Powers) Act 2010 No. 11 of 2010 9 (c) the National Credit legislation may have its operation affected, otherwise than by express amendment, at any time by provisions of Commonwealth Credit instruments. 10 Effect of termination of amendment reference before termination of adoption of Commonwealth Acts (1) If the amendment reference is terminated but the adoption of the relevant version of the National Credit legislation is not terminated, the termination of the amendment reference does not affect— (a) laws that were made under the amendment reference (but not repealed) before that termination (whether or not they have come into operation before that termination); or (b) the continued operation in this State of the National Credit legislation as in operation immediately before that termination or as subsequently amended or affected by— (i) laws referred to in paragraph (a) that come into operation after that termination; or (ii) provisions referred to in section 9(b) or (c). (2) Accordingly, the amendment reference continues to have effect for the purposes of subsection (1) unless the adoption is terminated. (3) Subsection (1) does not apply to or in relation to an amendment of the National Credit legislation that is excluded from the operation of this section by the proclamation that terminates the amendment reference. s. 10 -- 12 of 35 -- Part 2—Adoption and Reference of Matters Credit (Commonwealth Powers) Act 2010 No. 11 of 2010 10 (4) For the purposes of subsection (1)— (a) the laws referred to in subsection (1)(a) include Commonwealth Credit instruments; and (b) the reference in subsection (1)(b) to the National Credit legislation as in operation immediately before the termination of the amendment reference includes that legislation as affected by Commonwealth Credit instruments that have come into operation before that time. __________________ s. 10 -- 13 of 35 -- Part 3—Excluded Matter and Transitional and Consequential Matters Credit (Commonwealth Powers) Act 2010 No. 11 of 2010 11 PART 3—EXCLUDED MATTER AND TRANSITIONAL AND CONSEQUENTIAL MATTERS Division 1—Preliminary 11 Definitions In this Part— ASIC means the Australian Securities and Investments Commission established under the Australian Securities and Investments Commission Act 2001 of the Commonwealth; Commonwealth commencement has the same meaning that commencement has in section 4 of the Commonwealth Transitional Provisions Act; Commonwealth Transitional Provisions Act means the National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 of the Commonwealth; Director has the same meaning as in the Fair Trading Act 1999; National Credit Code means the National Credit Code in Schedule 1 to the NCCP Act; NCCP Act means the National Consumer Credit Protection Act 2009 of the Commonwealth; old Act means the Consumer Credit (Victoria) Act 1995 as in force before the Commonwealth commencement; old Code means the Consumer Credit (Victoria) Code as in force before the Commonwealth commencement; s. 11 -- 14 of 35 -- Part 3—Excluded Matter and Transitional and Consequential Matters Credit (Commonwealth Powers) Act 2010 No. 11 of 2010 12 old proceedings has the same meaning as in item 4 of Schedule 1 to the Commonwealth Transitional Provisions Act; old regulations means the Consumer Credit (Victoria) Regulations as in force before the Commonwealth commencement; Register of Credit Providers means the register kept under section 19 of the old Act; Registrar means the Registrar of the Authority appointed under the Business Licensing Authority Act 1998. Division 2—Excluded Matter 12 Credit law excluded matter (1) For the purposes of section 24 of the NCCP Act, section 29 of that Act, in so far as it would, but for this section, apply to a prescribed person, is declared to be an excluded matter. (2) In this section prescribed person means any of the following— (a) the Crown or a public or local body or authority constituted by or under an Act; (b) a body corporate empowered by an Act to lend money or provide credit to the extent that the lending of money or provision of credit is in accordance with that Act; (c) a person, not being a body corporate, authorised by an Act to lend money or provide credit to the extent that the lending of money or provision of credit is in accordance with that Act; (d) a council within the meaning of the Local Government Act 1989. s. 12 -- 15 of 35 -- Part 3—Excluded Matter and Transitional and Consequential Matters Credit (Commonwealth Powers) Act 2010 No. 11 of 2010 13 Division 3—Transitional provisions 13 Court proceedings, old Code and old regulations On the Commonwealth commencement an old proceedings ceases to be a proceeding in a court of this State. 14 Court proceedings, old Act In the case of a proceeding (other than an old proceedings) brought in a court under the old Act before the Commonwealth commencement, the following provisions apply— (a) the proceeding may be continued; and (b) any order made by the Court in relation to the proceeding may be appealed against, reviewed or enforced under the old Act— as if the old Act were still in force. 15 Tribunal proceedings (1) In the case of a proceeding that was commenced in VCAT under a provision of the old Code, old regulations or old Act before the Commonwealth commencement, but that was not finally determined before that commencement, the following provisions apply— (a) the proceeding may be continued; and (b) any order made by VCAT in relation to the proceeding may be appealed against, reviewed or enforced— as if the old Act, old Code and old regulations, were still in force. (2) In the case of any right or liability that accrued before the Commonwealth commencement under a provision of the old Code or old regulations, proceedings must not be commenced in VCAT in s. 13 -- 16 of 35 -- Part 3—Excluded Matter and Transitional and Consequential Matters Credit (Commonwealth Powers) Act 2010 No. 11 of 2010 14 relation to those rights and liabilities after the Commonwealth commencement. 16 Cessation of application of old Code (1) Except as otherwise provided by this Act or the Commonwealth Transitional Provisions Act, on and from the Commonwealth commencement the old Code ceases to apply to a contract or instrument that was made before that commencement that is a contract or instrument to which the National Credit Code applies by the operation of item 3 of Schedule 1 to the Commonwealth Transitional Provisions Act. (2) On and from the Commonwealth commencement, the old Code ceases to apply to any right or liability in respect of which a person has acquired, accrued or incurred a substitute right or liability by the operation of item 11 or 12 of Schedule 1 to the Commonwealth Transitional Provisions Act. 17 Certain powers and functions may be conferred on ASIC (1) The Minister, or a person authorised in writing by the Minister, may enter into an agreement or arrangement with ASIC for the performance of functions or the exercise of powers by ASIC as an agent of the State, even if those functions or powers are or may be conferred on another person or body by or under a law of the State. (2) An agreement or arrangement of a kind referred to in subsection (1) has effect by force of this section, despite any provision of a law of the State with respect to any function or power that is the subject of the agreement or arrangement. s. 16 -- 17 of 35 -- Part 3—Excluded Matter and Transitional and Consequential Matters Credit (Commonwealth Powers) Act 2010 No. 11 of 2010 15 18 Custody of registers (1) On and from the Commonwealth commencement, the Registrar must take possession and have custody, control and use of the Register of Credit Providers. (2) Despite the repeal of section 37S of the old Act, on and from the Commonwealth commencement, the Director retains possession and has custody, control and use of the register, within the meaning of section 6 of the Finance Brokers Act 1969, as in force before its repeal. 19 Provision of information to ASIC Despite any other Act or law, the Director may disclose to ASIC information the Director has acquired in the course of acting as the Director, that is reasonably required by ASIC in connection with the performance or exercise of its functions or powers under the National Credit legislation. Division 4—Amendment of Consumer Credit (Victoria) Act 1995 20 Repeal of certain provisions of the Consumer Credit (Victoria) Act 1995 (1) Sections 3, Part 2, Part 3, Part 4, Divisions 2 and 3 of Part 4A, sections 40A and 41 and Part 6 of the Consumer Credit (Victoria) Act 1995 are repealed. (2) Divisions 1, 4, 5 and 6 of Part 4A and the heading to Part 4A of the Consumer Credit (Victoria) Act 1995 are repealed. s. 18 See: Act No. 41/1995. Reprint No. 3 as at 21 August 2008 and amending Act Nos 4/2008, 6/2008 and 19/2009. LawToday: www. legislation. vic.gov.au -- 18 of 35 -- Part 3—Excluded Matter and Transitional and Consequential Matters Credit (Commonwealth Powers) Act 2010 No. 11 of 2010 16 21 Section 38 substituted For section 38 of the Consumer Credit (Victoria) Act 1995 substitute— "38 Money to be paid to Consumer Credit Fund The Consumer Credit Fund established under the Credit (Administration) Act 1984 is the fund into which are to be paid amounts of civil penalty awarded in proceedings commenced under a provision of the Consumer Credit (Victoria) Code before the Commonwealth commencement.". 22 Amendment of the Consumer Credit (Victoria) Act 1995 (1) In section 37A of the Consumer Credit (Victoria) Act 1995— (a) insert the following definition— "National Credit Code has the same meaning as in Part 5;"; (b) in paragraph (a) of the definition of consumer credit, for "Consumer Credit (Victoria) Code" substitute "National Credit Code"; (c) in paragraph (b) of the definition of consumer credit, for "Part 10 of the Consumer Credit (Victoria) Code" substitute "Part 11 of the National Credit Code"; (d) in the definition of valuation fee, for "Consumer Credit (Victoria) Code" substitute "National Credit Code". s. 21 -- 19 of 35 -- Part 3—Excluded Matter and Transitional and Consequential Matters Credit (Commonwealth Powers) Act 2010 No. 11 of 2010 17 (2) In section 37J(3) of the Consumer Credit (Victoria) Act 1995— (a) in paragraph (a), for "Consumer Credit (Victoria) Code" substitute "National Credit Code"; (b) in paragraph (b), for "Consumer Credit (Victoria) Code" substitute "National Credit Code". (3) After the heading to Part 5 of the Consumer Credit (Victoria) Act 1995 insert— "38AA Definitions In this Part— Commonwealth commencement has the same meaning that commencement has in section 4 of the National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 of the Commonwealth; credit contract has the same meaning as in the National Credit Code; credit provider has the same meaning as in the National Credit Code; National Credit Code means the national credit code in Schedule 1 to the National Consumer Credit Protection Act 2009 of the Commonwealth.". (4) For section 39(2) of the Consumer Credit (Victoria) Act 1995 substitute— "(2) Nothing in this section affects or limits the powers of the Court under section 70 of the Consumer Credit (Victoria) Code or of a court under section 76 of the National Credit Code if the Court or court is satisfied that the annual percentage rate in respect of a credit s. 22 -- 20 of 35 -- Part 3—Excluded Matter and Transitional and Consequential Matters Credit (Commonwealth Powers) Act 2010 No. 11 of 2010 18 contract although not exceeding, in the case of a credit contract in relation to which there is a mortgage, 30, and in the case of any other contract, 48, is excessive or that the transaction is unjust within the meaning of that section 70 or section 76, as the case requires, or is such that a court of equity would give relief.". Division 5—Amendment of the Credit Act 1984 23 Definitions For the definition of registered credit provider in section 5(1) of the Credit Act 1984 substitute— "registered credit provider means a person registered or licensed to be a credit provider under the National Consumer Credit Protection Act 2009 of the Commonwealth;". Division 6—Amendment of the Credit (Administration) Act 1984 24 Definitions In section 4 of the Credit (Administration) Act 1984, the definitions of registered credit provider and registration are repealed. s. 23 See: Act No. 10097. Reprint No. 4 as at 23 February 2007 and amending Act Nos 69/2006, 2/2008 and 68/2009. LawToday: www. legislation. vic.gov.au See: Act No. 10091. Reprint No. 5 as at 1 May 2008 and amending Act No. 68/2009. LawToday: www. legislation. vic.gov.au -- 21 of 35 -- Part 3—Excluded Matter and Transitional and Consequential Matters Credit (Commonwealth Powers) Act 2010 No. 11 of 2010 19 25 Definitions in Credit Act 1984 For section 5 of the Credit (Administration) Act 1984 substitute— "5 Definitions in Credit Act 1984 Expressions used in this Act, unless the contrary intention appears, have the same respective meanings as in the Credit Act 1984.". 26 Definition In section 10A of the Credit (Administration) Act 1984, for the definition of Credit Acts substitute— "Credit Acts means the Credit Act 1984 and the Consumer Credit (Victoria) Act 1995.". 27 Section 12 substituted For section 12 of the Credit (Administration) Act 1984 substitute— "12 Powers of Director Subject to this Act and the Credit Acts, the Director has power to do all things necessary or convenient to be done for or in connection with the performance of his or her functions.". 28 Powers of Director in relation to proceedings (1) In section 13(2)(b) of the Credit (Administration) Act 1984, after "the Consumer Credit (Victoria) Code" insert "(as in force before the repeal of Part 2 of the Consumer Credit (Victoria) Act 1995)". (2) In the definition of consumer credit matter in section 13(5) of the Credit (Administration) Act 1984— s. 25 -- 22 of 35 -- Part 3—Excluded Matter and Transitional and Consequential Matters Credit (Commonwealth Powers) Act 2010 No. 11 of 2010 20 (a) after "the Consumer Credit (Victoria) Code" insert "(as in force before the repeal of Part 2 of the Consumer Credit (Victoria) Act 1995)"; (b) after "the Consumer Credit (Victoria) Act 1995" insert "(as in force before the repeal of that Division)". 29 Secrecy In section 15(2) of the Credit (Administration) Act 1984, for "or the Credit Acts" (wherever occurring) substitute ", the Credit Acts or the Credit (Commonwealth Powers) Act 2010". 30 Definitions (1) In section 17 of the Credit (Administration) Act 1984— (a) in the definition of Credit Acts, after "Consumer Credit (Victoria) Code" insert "(as in force before the repeal of Part 2 of the Consumer Credit (Victoria) Act 1995)" ; (b) in paragraph (b) of the definition of financial institution, for "Gazette." substitute "Gazette;"; (c) insert the following definition— "relevant credit provider means a person who makes or has made a relevant provision of credit.". (2) At the end of section 17 of the Credit (Administration) Act 1984 insert— "(2) In this Act a reference to a relevant provision of credit is a reference to— (a) a provision of credit under a contract that is regulated by the Credit Act 1984 or that is a contract to which s. 29 -- 23 of 35 -- Part 3—Excluded Matter and Transitional and Consequential Matters Credit (Commonwealth Powers) Act 2010 No. 11 of 2010 21 section 39 or 40 of the Consumer Credit (Victoria) Act 1995 applies; or (b) provision of credit, before the repeal of the Consumer Credit (Victoria) Code, under a contract that was regulated by the Consumer Credit (Victoria) Code (as in force before its repeal); or (c) engaging in finance broking before the repeal of Division 1 of Part 4A of the Consumer Credit (Victoria) Act 1995, being finance broking within the meaning of that Part (as in force before its repeal). ". 31 Documents available for inspection (1) In section 19(1) of the Credit (Administration) Act 1984— (a) for "registered credit provider" (wherever occurring) substitute "relevant credit provider"; (b) for "carries on business as a credit provider or finance broker" substitute "carries on or has carried on the business of making relevant provisions of credit". (2) Section 19(2) of the Credit (Administration) Act 1984 is repealed. 32 Requirements to produce documents, supply information, answer questions (1) In section 20(1) of the Credit (Administration) Act 1984— (a) after "or the regulations under those Acts" insert "as to a relevant provision of credit"; (b) for "registered credit provider" substitute "relevant credit provider". s. 31 -- 24 of 35 -- Part 3—Excluded Matter and Transitional and Consequential Matters Credit (Commonwealth Powers) Act 2010 No. 11 of 2010 22 (2) In section 20(2) of the Credit (Administration) Act 1984— (a) in paragraph (a), for "registered credit provider" (wherever occurring) substitute "relevant credit provider"; (b) paragraph (a)(i) is repealed; (c) paragraphs (a)(iii) and (a)(iv) are repealed. (3) In section 21(a) of the Credit (Administration) Act 1984, for "registered credit provider's" substitute "relevant credit provider's". (4) In section 22(1)(a) of the Credit (Administration) Act 1984, for "registered credit provider's" substitute "relevant credit provider's". (5) In section 23(1)(a) of the Credit (Administration) Act 1984, for "registered credit provider's" substitute "relevant credit provider's". (6) In sections 25(1)(a) and 25(1)(b) of the Credit (Administration) Act 1984, for "registered credit provider's" substitute "relevant credit provider's". 33 Confidentiality After section 42(2)(c) of the Credit (Administration) Act 1984 insert— "(ca) to an agency of the Commonwealth, the extent reasonably required to bring into operation the National Consumer Credit Protection Act 2009 of the Commonwealth and the National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 of the Commonwealth; or". 34 The Fund In section 86AA(2)(b) of the Credit (Administration) Act 1984, omit "section 30 or 38 of". s. 33 -- 25 of 35 -- Part 3—Excluded Matter and Transitional and Consequential Matters Credit (Commonwealth Powers) Act 2010 No. 11 of 2010 23 35 Giving of notices In section 86(1) of the Credit (Administration) Act 1984, omit "or Part 4 of the Consumer Credit (Victoria) Code". 36 Repeal of certain provisions (1) Sections 89A and 89B of the Credit (Administration) Act 1984 are repealed. (2) Section 95(1)(j) of the Credit (Administration) Act 1984 is repealed. Division 7—Amendment of the Business Licensing Authority Act 1998 37 Definitions In the definition of business licensing Act in section 3 of the Business Licensing Authority Act 1998, paragraph (a) is repealed. 38 Functions of Authority In section 6 of the Business Licensing Authority Act 1998, paragraph (a)(i) is repealed. 39 Secrecy After section 18(3)(b)(v) of the Business Licensing Authority Act 1998, insert— "(va) to an agency of the Commonwealth, the extent reasonably required to bring into operation the National Consumer Credit Protection Act 2009 of the Commonwealth and the National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 of the Commonwealth; or". s. 35 See: Act No. 49/1998. Reprint No. 2 as at 1 July 2008. LawToday: www. legislation. vic.gov.au -- 26 of 35 -- Part 3—Excluded Matter and Transitional and Consequential Matters Credit (Commonwealth Powers) Act 2010 No. 11 of 2010 24 40 Part 3 definitions In the definition of licence in section 20 of the Business Licensing Authority Act 1998, paragraphs (e) and (f) are repealed. 41 Effect of suspension Sections 22(6) and 22(7) of the Business Licensing Authority Act 1998 are repealed. Division 8—Amendment of the Duties Act 2000 42 Amendments to Duties Act 2000 (1) In section 132(i) of the Duties Act 2000, after "Consumer Credit (Victoria) Code" insert "as in force before its repeal"; (2) In the definition of Consumer Credit Code in section 169(5) of the Duties Act 2000, in paragraph (a), after "Territory" insert "before its repeal in that State or Territory". Division 9—Amendments to the Fair Trading Act 1999 43 Definitions In section 3 of the Fair Trading Act 1999— (a) insert the following definition— "National Credit Code has the same meaning as in the National Consumer Credit Protection Act 2009 of the Commonwealth;"; (b) in paragraph (d) of the definition of hire- purchase agreement, for "Consumer Credit (Victoria) Code" substitute "National Credit Code". See: Act No. 79/2000. Reprint No. 7 as at 7 July 2009 and amending Act Nos 84/2008, 4/2009, 69/2009, 74/2009 and 1/2010. LawToday: www. legislation. vic.gov.au s. 40 -- 27 of 35 -- Part 3—Excluded Matter and Transitional and Consequential Matters Credit (Commonwealth Powers) Act 2010 No. 11 of 2010 25 44 Amendment of references to Consumer Credit (Victoria) Code (1) In section 64(3) of the Fair Trading Act 1999, for "Consumer Credit (Victoria) Code" substitute "National Credit Code". (2) In section 67D(3) of the Fair Trading Act 1999, for "Consumer Credit (Victoria) Code" substitute "National Credit Code". (3) In section 67I(3) of the Fair Trading Act 1999, for "Consumer Credit (Victoria) Code" substitute "National Credit Code". (4) In the note at the foot of section 67M(1)(a) of the Fair Trading Act 1999, for "Consumer Credit (Victoria) Code" substitute "National Credit Code". (5) In section 72(3) of the Fair Trading Act 1999, for "Consumer Credit (Victoria) Code" substitute "National Credit Code". 45 Amendment of definition of consumer dispute In the definition of consumer dispute in section 105(5) of the Fair Trading Act 1999, after "trade or commerce" insert ", other than a dispute under or in relation to the National Consumer Credit Protection Act 2009 of the Commonwealth". 46 Amendment of definition of licence In the definition of licence in section 106C of the Fair Trading Act 1999, paragraphs (e) and (f) are repealed. 47 Repeal of provisions relating to registrations Sections 106E(6) and 106E(7) of the Fair Trading Act 1999 are repealed. s. 44 -- 28 of 35 -- Part 3—Excluded Matter and Transitional and Consequential Matters Credit (Commonwealth Powers) Act 2010 No. 11 of 2010 26 48 Confidentiality After section 106P(2)(c) of the Fair Trading Act 1999 insert— "(ca) to an agency of the Commonwealth, to the extent reasonably required to bring into operation the National Consumer Credit Protection Act 2009 of the Commonwealth and the National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 of the Commonwealth; or". 49 Amendment of reference to Consumer Credit (Victoria) Act 1995 In section 163(2) of the Fair Trading Act 1999, for "Consumer Credit (Victoria) Act 1995" substitute "National Credit Code". Division 10—Amendment of the Goods Act 1958 50 Amendment of the Goods Act 1958 In paragraph (f) of the definition of hire purchase agreement in section 120(1) of the Goods Act 1958, for "Consumer Credit (Victoria) Code" substitute "National Credit Code within the meaning of the National Consumer Credit Protection Act 2009 of the Commonwealth". s. 48 See: Act No. 6265. Reprint No. 10 as at 1 May 2003 and amending Act Nos 30/2003, 2/2009, 7/2009 and 68/2009. LawToday: www. legislation. vic.gov.au -- 29 of 35 -- Part 3—Excluded Matter and Transitional and Consequential Matters Credit (Commonwealth Powers) Act 2010 No. 11 of 2010 27 Division 11—Interpretation of Legislation Act 1984 51 Amendment of the definition of Code Paragraph (k) of the definition of Code in section 32(1) of the Interpretation of Legislation Act 1984 is repealed. 52 Repeal of section 38C Section 38C of the Interpretation of Legislation Act 1984 is repealed. Division 12—Amendment of the Motor Car Traders Act 1986 53 Application of the National Credit Code to certain agreements for the purchase of motor cars In section 43(6) of the Motor Car Traders Act 1986, for "section 125 of the Consumer Credit (Victoria) Code" substitute "section 135 of the National Credit Code within the meaning of the National Consumer Credit Protection Act 2009 of the Commonwealth". See: Act No. 10096. Reprint No. 9 as at 6 March 2007 and amending Act Nos 4/2008, 30/2008, 77/2008, 78/2008, 9/2009, 68/2009 and 69/2009. LawToday: www. legislation. vic.gov.au s. 51 See: Act No. 104/1986. Reprint No. 6 as at 1 December 2006 and amending Act Nos 17/2007, 2/2008, 4/2008, 12/2008 and 68/2009. LawToday: www. legislation. vic.gov.au -- 30 of 35 -- Part 3—Excluded Matter and Transitional and Consequential Matters Credit (Commonwealth Powers) Act 2010 No. 11 of 2010 28 54 Insertion of new section after section 43 After section 43 of the Motor Car Traders Act 1986 insert— "43A Credit Law excluded matter For the purposes of section 24 of the National Consumer Credit Protection Act 2009 of the Commonwealth, the matter provided for in section 43 is declared to be excluded matter in relation to section 135 of the National Credit Code within the meaning of the National Consumer Credit Protection Act 2009 of the Commonwealth.". 55 Repeal of section 49 In section 49 of the Motor Car Traders Act 1986, for "or the Consumer Credit (Victoria) Code" substitute "or the National Credit Code within the meaning of the National Consumer Credit Protection Act 2009 of the Commonwealth". 56 Determination of claims For section 76(4A)(e) of the Motor Car Traders Act 1986 substitute— "(e) a person who acts as an intermediary within the meaning of section 9 of the National Consumer Credit Protection Act 2009 of the Commonwealth.". s. 54 -- 31 of 35 -- Part 3—Excluded Matter and Transitional and Consequential Matters Credit (Commonwealth Powers) Act 2010 No. 11 of 2010 29 Division 13—Amendment of the Partnership Act 1958 57 New section 28A inserted After section 28 of the Partnership Act 1958 insert— "28A Credit law excluded matter For the purposes of section 24 of the National Consumer Credit Protection Act 2009 of the Commonwealth, the matter provided for in section 28(3) is declared to be excluded matter in relation to the whole of the National Consumer Credit Protection Act 2009 of the Commonwealth.". Division 14—Amendment of the Supreme Court Act 1986 58 Amendment of reference to Consumer Credit (Victoria) Code In section 57(1) of the Supreme Court Act 1986, for "the Consumer Credit (Victoria) Code" substitute "the Consumer Credit (Victoria) Act 1995 and the National Credit Code within the meaning of the National Consumer Credit Protection Act 2009 of the Commonwealth". See: Act No. 6330. Reprint No. 7 as at 3 December 2003 and amending Act Nos 108/2004, 2/2008, 12/2008 and 1/2010. LawToday: www. legislation. vic.gov.au s. 57 See: Act No. 110/1986. Reprint No. 6 as at 28 April 2006 and amending Act Nos 48/2006, 24/2007, 8/2008, 9/2008, 23/2008, 24/2008, 78/2008, 4/2009, 9/2009, 50/2009, 68/2009 and 69/2009. LawToday: www. legislation. vic.gov.au -- 32 of 35 -- Part 3—Excluded Matter and Transitional and Consequential Matters Credit (Commonwealth Powers) Act 2010 No. 11 of 2010 30 Division 15—Amendment of the Victorian Civil and Administrative Tribunal Act 1998 59 Repeal of references to Consumer Credit (Victoria) Code (1) In section 62(2)(f) of the Victorian Civil and Administrative Tribunal Act 1998 omit "the Consumer Credit (Victoria) Code or". (2) Paragraph (c) of the definition of credit enactment in section 148(10) of the Victorian Civil and Administrative Tribunal Act 1998 is repealed. (3) Paragraph (c) of the definition of credit enactment in clause 2 of Schedule 1 to the Victorian Civil and Administrative Tribunal Act 1998 is repealed. (4) In clause 7 of Schedule 1 to the Victorian Civil and Administrative Tribunal Act 1998 omit "or section 101 of the Consumer Credit (Victoria) Code". (5) In clause 8(1)(b) of Schedule 1 to the Victorian Civil and Administrative Tribunal Act 1998 omit "or the Consumer Credit (Victoria) Code". __________________ s. 59 See: Act No. 53/1998. Reprint No. 6 as at 1 January 2009 and amending Act Nos 46/2008, 76/2008, 78/2008, 6/2009, 14/2009, 21/2009, 68/2009 and 69/2009. LawToday: www. legislation. vic.gov.au -- 33 of 35 -- Part 4—Repeal of Certain Provisions Credit (Commonwealth Powers) Act 2010 No. 11 of 2010 31 PART 4—REPEAL OF CERTAIN PROVISIONS 60 Repeal of this Part and Divisions 4 to 15 of Part 3 This Part and Divisions 4 to 15 of Part 3 are repealed on the first anniversary of the first day on which all of those provisions are in operation. Note The repeal of Divisions 4 to 15 of Part 3 does not affect the continuing operation of the amendments made by those Divisions (see section 15(1) of the Interpretation of Legislation Act 1984). ═══════════════ s. 60 -- 34 of 35 -- Credit (Commonwealth Powers) Act 2010 No. 11 of 2010 32 ENDNOTES † Minister's second reading speech— Legislative Assembly: 24 February 2010 Legislative Council: 11 March 2010 The long title for the Bill for this Act was "A Bill for an Act to adopt the National Consumer Credit Protection Act 2009 of the Commonwealth (as amended) and the National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 of the Commonwealth, and to refer certain matters relating to the provision of credit and certain other financial transactions to the Parliament of the Commonwealth, for the purposes of section 51(xxxvii) of the Constitution of the Commonwealth and to make related provisions and transitional and consequential provisions." Endnotes -- 35 of 35 --