Consumer credit ecommerce amendments

The Consumer Credit and Trade Measurement Amendment Bill 2006 (pdf) was introduced into Queensland Parliament on 28 March 2006.

The objectives of the Bill in relation to credit matters are to:
• facilitate the application of the electronic transactions legislation in each State and Territory to the Consumer Credit Code;
• ensure that consumer protection is not diminished as a result of a debtor transacting in an electronic environment; and
• extend the sunset clause in relation to the mandatory comparison rate regime in the Consumer Credit Code by one year to 30 June 2007 to enable a review of that regime to be completed.

UPDATE: Although it is not possible to release the Regulations prior to the Bill
being assented it is likely that the exemptions from electronic communication that were proposed in conjunction with the Bill will be adopted in the Regulations. These were:

  • a guarantee under section 9
  • a copy of a guarantee under section 52(1)(a)
  • a copy of a credit contract under section 52(1)(B);
  • a copy of a contract document under section 54(2)(a);
  • a notice of particulars of change under section 56(1)(a);
  • a default notice under section 80(1);
  • a default notice under section 80(2);
  • information provided to the occupier under section 91(1)(b);
  • a request for entry under section 24(a);
  • a consent to enter premises under section 24(c);
  • a notice under section 94(1);
  • a demand on the supplier under section 120(5)(a);
  • a demand on the supplier under section 120(6)(a);
  • a notice of intention to repossess under section 156(1);
  • a
    transaction on which duty is only charged under the laws of a
    jurisdiction if the transaction is effected or evidenced by an
    instrument in hard copy form;
  • an instrument on which duty is only charged under the laws of a jurisdiction if the instrument is in hard copy form.
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