Credit (Commonwealth Powers) Act 2010 (Qld)

Credit (Commonwealth Powers) Act 2010

An Act to adopt the National Consumer Credit Protection Act 2009 (Cwlth) (as amended) and the National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 (Cwlth), and to refer certain matters relating to the provision of credit and certain other financial transactions to the Parliament of the Commonwealth, for the purposes of section 51(xxxvii) of the Commonwealth Constitution, to repeal the Consumer Credit (Queensland) Act 1994 and the regulations under that Act, to repeal the Credit Act 1987 and the regulations under that Act, to provide for transitional and other matters relating to the referral of those matters and the repeal of those Acts and regulations, and to continue to provide for a maximum annual percentage rate for credit contracts

Part 1 Preliminary

1 Short title This Act may be cited as the Credit (Commonwealth Powers) Act 2010.

2 Commencement The provisions of this Act, other than parts 2 and 5, commence on a day to be fixed by proclamation.

Part 2 Adoption and reference of matters

3 Definitions for part In this part— adoption means the adoption under section 4(1). amendment reference means the reference under section 6(1). Commonwealth Credit instrument means any instrument (whether or not of a legislative character) that is made or issued under the National Credit legislation. express amendment of the National Credit legislation means the direct amendment of the text of the National Credit legislation (whether by the insertion, omission, repeal, substitution or relocation of words or matter) by another Commonwealth Act or by an instrument under a Commonwealth Act, but does not include the enactment by a Commonwealth Act of a provision that has or will have substantive effect otherwise than as part of the text of the National Credit legislation. National Credit legislation means— (a) the National Consumer Credit Protection Act 2009 (Cwlth); and (b) the National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 (Cwlth); as in force from time to time. referred credit matter means a matter relating to either of the following— (a) credit, being credit the provision of which would be covered by the expression 'provision of credit to which this Code applies' in the relevant version of the National Credit Code; (b) consumer leases, being consumer leases each of which would be covered by the expression 'consumer lease to which Part 11 applies' in the relevant version of the National Credit Code. relevant version of the National Credit Code means the text of schedule 1 to the National Consumer Credit Protection Act 2009 (Cwlth) as originally enacted, and as later amended by the National Consumer Credit Protection Amendment Act 2010 (Cwlth). relevant version of the National Credit legislation means— (a) the National Consumer Credit Protection Act 2009 (Cwlth) as originally enacted, and as later amended by the National Consumer Credit Protection Amendment Act 2010 (Cwlth); and (b) the National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 (Cwlth).