Schedules
3 Schedules
Legislation that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.
Schedule 4—Consumer credit reforms
Part 1—Small amount credit contracts
National Consumer Credit Protection Act 2009
1 Subsection 5(1)
Insert:
repayment date: see subsection 133CD(3).
unsolicited communication to a consumer: see subsection 133CF(2).
2 Section 111 (paragraph beginning “Division 7”)
Repeal the paragraph, substitute:
Division 7 prohibits a licensee from providing credit assistance to a consumer in relation to short‑term credit contracts, and imposes requirements on a licensee who makes representations about providing credit assistance in relation to small amount credit contracts. It also imposes requirements in relation to recording the preliminary assessment that a small amount credit contract is not unsuitable.
3 Subsection 117(1A)
Omit “obtain and consider account statements that cover”, substitute “obtain and consider information about each transaction on the account, and the balances of the account, during”.
4 Subsection 118(3A)
Repeal the subsection.
5 Subsection 123(3A)
Repeal the subsection.
6 Section 124B
Repeal the section, substitute:
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