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ARTICLE · 29 APRIL 2016

Small Amount Credit Contract (SACC) report finally released (including recommendations about consumer leases)

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The final report of the independent review of the Small Amount Credit Contract laws and consumer leases was released.

AustraliaConsumer Protection
Richard Williams
Richard Williams
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The eagerly awaited final report of the independent review of the small amount credit contract (SACC) laws and consumer leases was released on Tuesday 19 April 2016 by the Minister for Small Business and Assistant Treasurer, Kelly O'Dwyer.

The full report is available on the Australian Government Consumer Credit website.

The review was established to fulfil a statutory requirement under the National Consumer Credit Act 2009 (Commonwealth) to examine and report on the effectiveness of the law relating to SACCs. Its terms of reference were expanded to also examine consumer leases as well.

The Minister, in her media release, states:

The final report has made a number of recommendations designed to increase financial inclusion and reduce the risk that consumers may be unable to meet their basic needs or may default on other necessary commitments.

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