Exposure Draft - National Consumer Credit Protection Amendment (Enhancements) Bill 2011

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Abstract:

The Assistant Treasurer, the Hon Bill Shorten has released for public consultation exposure draft legislation which provides enhancement to the national consumer credit protection regime under Phase Two of the National Credit Reforms.

These reforms provide for:

• greater protections for seniors seeking to use the equity in their homes via a reverse mortgage;
• greater regulatory consistency between consumer leases and other functionally similar forms of credit; and
• enhancements to specific provisions of the National Credit Code.

Making a submission

Interested parties are invited to comment on the exposure drafts. While submissions may be lodged electronically, by post or by facsimile, 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: Wednesday, 17 August 2011

Address written submissions to:
The General Manager
Retail Investor Division
The Treasury
Langton Crescent
PARKES ACT 2600

Fax: (02) 6263 2770

Email: creditenhancementsbill@treasury.gov.au

For enquiries, please contact:
Christian Mikula
Manager
Consumer Credit Unit
Retail Investor Division
The Treasury
(02) 6263 3971

Documents Available:

 Acrobat (PDF)

 Microsoft Word (RTF)

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