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National Credit Reform - Enhancing confidence and fairness in Australia's credit law

Date:

Wednesday, 7 July 2010

Content ID:

1852

Abstract:

This Green Paper initiates the next stage in an important consultation process on the National Consumer Credit Protection Reform. The Paper canvasses community views on a coherent and comprehensive package of potential reform proposals that are being considered as part of Phase Two of the Council of Australian Governments' (COAG) Credit Reform agenda.

The Green Paper sets out key issues for consideration, and in some cases, high level proposals for addressing some of these issues.  The issues cover topics including:

  • credit to small business;
  • credit cards;
  • reverse mortgages;
  • investment lending;
  • small amount short term lending;
  • consumer leases;
  • enhancements to the Credit Act; and
  • coverage of credit under the Credit Act and avoidance practices.

Comments received in response to this paper will inform the Government and COAG in its consideration of the reform proposals and assist development of relevant regulatory options and Regulation Impact Statements. 

The Government looks forward to continue working with industry, the community and the States and Territories in the development of the next phase of these important credit reforms.

Making a submission

Interested parties are invited to comment on the options presented, or submit their own proposals. While submissions may be lodged electronically or by post, electronic lodgement is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.

All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment. Legal requirements, such as those imposed by the Freedom of Information Act 1982, may affect the confidentiality of your submission.

Closing date for submissions: Friday, 6 August 2010

Address written submissions to:
Green Paper on National Credit Reform
Corporations and Financial Services Division
The Treasury
Langton Crescent
PARKES ACT 2600

Fax: (02) 6263 2770

Email: consumercreditgreenpaper@treasury.gov.au

For enquiries please call (02) 6263 3705.

Documents Available:


Acrobat (PDF) documents

 Acrobat (PDF)

Green Paper - National Credit Reform  1,100.85kb

Microsoft Word (RTF) documents

 Microsoft Word (RTF)

Green Paper - National Credit Reform  2,519.33kb

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