National Consumer Credit Protection Reform Package: Bills Passed On 26 October 2009

The National Consumer Credit Protection Reform Package (NCCP Package), comprising of the 3 Bills, the National Consumer Credit Protection Bill 2009 (NCCP Bill), the National Consumer Credit Protection (Fees) Bill 2009 and the National Consumer Credit Protection (Transitional and Consequential Provision) Bill 2009, were passed by the Senate on 26 October 2009 and are awaiting assent.

The NCCP Package was referred to the Senate Economics Legislation Committee for inquiry on 25 June 2009 and the Senate Committee's inquiry report was released on 7 September 2009. 12 recommendations were made by the Senate Committee in its inquiry report, including that the 3 Bills be passed before 1 November 2009. Please see our Legal Update: Senate inquiry into the National Consumer Credit Protection Reform Package inquiry report released  dated 08 Sept 09