📜 Credit (Commonwealth Powers) (Transitional and Consequential Provisions) Bill 2010
Assented toLABill 12217 March 2010
This Bill amends or repeals various Western Australian Acts as a consequence of the Commonwealth's National Consumer Credit Protection Act 2009. It aims to transition credit regulation to a national scheme and lessen the impact on WA finance brokers and credit providers.
Impact
Finance brokers and credit providers in Western Australia will be affected as the regulatory regime shifts to a national standard. Consumers are indirectly affected through changes to credit regulation. The bill aims to ensure a smooth transition and reduce financial burdens during the changeover.
Key Changes
["Repeals the Consumer Credit (Western Australia) Act 1996.", "Amends the Credit (Administration) Act 1984 to remove state licensing requirements for credit providers.", "Amends the Finance Brokers Control Act 1975 and eventually repeals it."]
Parliamentary Progress
- LA IntroducedLA17 Mar 2010
- LA Second Reading MovedLA17 Mar 2010
- LA Second Reading AgreedLA22 Apr 2010
- LA Third ReadingLA22 Apr 2010
- LC Second Reading MovedLC20 May 2010
- LC Third ReadingLC15 June 2010
- LC Second Reading AgreedLC15 June 2010
- Royal Assent25 June 2010
Affected Sectors
finance
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