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ARTICLE · 27 OCTOBER 2009

National Consumer Credit Protection Act Passed!

The Senate passed the National Consumer Credit Protection Act and a number of associated Bills on Monday 26 October 2009.

AustraliaConsumer Protection

The Senate passed the National Consumer Credit Protection Act and a number of associated Bills on Monday 26 October 2009. Industry now has sufficient certainty to start planning with confidence for the staged implementation.

Key information

For the timetable for implementation, click here.

Don't panic (thanks Douglas Adams)

There is still plenty of time to get organised to ensure full compliance. The MFAA and ASIC will be providing significant support material to assist businesses to register and subsequently obtain licenses.

In addition, the Gadens Lawyers' NCCP Compliance Manual Program will provide support to lenders and larger broking groups who face greater compliance challenges.

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