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Annotated National Credit Code - 4th Edition

Annotated National Credit Code - 4th Edition

Author: Beatty, A and Smith, A
Publisher: LexisNexis Australia
ISBN: 9780409327397
Published In: August 2011
Format: Paperback
Jurisdiction: Australia ? Disclaimer:
Countri(es) stated herein are used as reference only

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Description
Contents
Author

Details

The Annotated National Credit Code has an established reputation as an invaluable guide to the Code and Regulations. It is an essential reference for financial institutions, retailers, financiers and consumer advocates as well as practitioners to ensure their compliance with Code obligations.

The move towards federal regulation of the industry has resulted in a single, standard, national regulation of consumer credit. This has a significant impact on any person involved in the origination, management or enforcement of consumer credit. The code also applies to those who provide credit to purchase, renovate or improve residential property for investment purposes. Among other things, the new regulatory framework will create a new licensing system, impose responsible lending requirements and extend regulation to apply to the finance broking industry. Professionals in the field must acquaint themselves with the new framework.

This is the only book to focus solely on the Code. It is a practice oriented guide that provides detailed and comprehensive annotations and explanations. Practitioners will find this book invaluable in dealing with the new federal scheme and understanding the new responsibilities placed upon credit providers and the penalties for breach.

The fourth edition includes:

- An overview of the National Consumer Credit regime
- A table of differences between the old Uniform Consumer Credit Code and the new National Credit Code
- A table matching old section numbers to their new equivalents
- ASIC registration and credit licensing requirements
- Responsible lending requirements
Table of Parts and Divisions
Table of Provisions
Legislative history
Part 1 - Preliminary
Part 2 - Credit contracts
Part 3 - Related mortgages and guarantees
Part 4 - Changes to obligations under credit contracts, mortgages and guarantees
Part 5 - Ending and enforcing credit contracts, mortgages and guarantees
Part 6 - Civil penalties for defaults of credit providers
Part 7 - Related sale contracts
Part 8 - Related insurance contracts
Part 9 - Advertising and related conduct
Part 9A - Comparison rates
Part 10 - Consumer leases
Part 11 - Miscellaneous
Part 12 - Transitional provisions
Schedule 1 - Principal definitions
Schedule 2 - Miscellaneous provisions relating to interpretation
Andrea Beatty is a partner with HWL Ebsworth Lawyers, where she specialises in financial services and regulation, payment systems, e-commerce, privacy and anti-money laundering and counter-terrorism finance. She has also been involved in all previous editions of this book.