Proposed Victorian Consumer Protection Initiatives

Victoria proposes to amend its Consumer Credit (Victoria) Act and Sale of Land Act to provide better protection for consumers in line with the Consumer Credit Review Report released in 2006.

The proposals only apply to Uniform Consumer Credit Code ('UCCC') regulated lending where the borrower is resident in Victoria. It is unfortunate that this legislation is a further reduction in the uniformity of credit laws in Australia. The key proposals are as follows:

Consumer Affairs May Take Action For Or Defend Actions For Consumers

Under the proposals, the Director of Consumer Affairs Victoria may institute or continue proceedings on behalf of, or defend proceedings brought against, a debtor, mortgagor, guarantor or lessee under a consumer lease in respect of any "consumer credit matter".