National Consumer Credit Protection Act. Australia

National Consumer Credit Protection Act - Australia


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in relation to a State or Territory — means so much of the coastal sea of Australia as is within the area described in Schedule 1 to the Offshore Petroleum and Greenhouse Gas Storage Act 2006 under the heading that refers to that State or Territory.

      commission includes any financial or other benefit in the nature of a commission.

      Commonwealth credit legislation means this Act and the Transitional Act.

      consumer means a natural person or a strata corporation.

      consumer lease means a consumer lease to which Part 11 of the National Credit Code applies.

      contravention, in relation to a Commonwealth law, includes an ancillary offence relating to an offence against that law.

      credit has the same meaning as in subsection 3(1) of the National Credit Code.

      credit activity: see section 6.

      credit assistance: see section 8.

      credit book: see subsection 227(4).

      credit contract has the same meaning as in section 4 of the National Credit Code.

      credit legislation means:

      (a) this Act; and

      (b) the Transitional Act; and

      (c) Division 2 of Part 2 of the ASIC Act and regulations made for the purpose of that Division; and

      (d) any other Commonwealth, State or Territory legislation that covers conduct relating to credit activities (whether or not it also covers other conduct), but only in so far as it covers conduct relating to credit activities.

      credit limit of a credit contract means the maximum amount of credit that may be provided under the contract.

      credit provider has the same meaning as in section 204 of the National Credit Code, and includes a person who is a credit provider because of section 10.

      credit registers: see section 213.

      credit representative: see subsections 64(2) and 65(2).

      credit representative number means the number given to a credit representative under section 72.

      credit service: see section 7.

      criminal procedure: see section 205.

      debtor has the same meaning as in section 204 of the National Credit Code.

      director has the same meaning as in section 9 of the Corporations Act 2001.

      disqualification order means an order of the court under section 86.

      document registers: see section 219.

      engage in conduct means:

      (a) do an act; or

      (b) omit to perform an act.

      examination, when used in Chapter 6 (which deals with compliance and enforcement), means an examination of a person pursuant to a requirement made under section 253.

      expenses, in relation to an investigation under Part 6–1, includes costs and expenses incurred by ASIC in relation to proceedings brought under section 275 as a result of the investigation.

      Federal Court means the Federal Court of Australia.

      financial records: see subsection 88(2).

      financial year: see subsection 100(6).

      function includes a duty.

      give:

      (a) when used in Chapter 6 (which deals with compliance and enforcement) in relation to a document — has a meaning affected by section 314; and

      (b) when used in relation to information, includes:

      (i) explaining or stating a matter; and(ii) identifying a person, matter or thing; and (iii) disclosing information; and (iv) answering a question.

      guarantee means a guarantee to which the National Credit Code applies.

      hearing, when used in Chapter 6 (which deals with compliance and enforcement), means a hearing before ASIC and, in sections 278, 280, 281 and 282 (which are in that Chapter), includes part of such a hearing.

      initial National Credit Code: see subsection 20(2).

      insolvent means:

      (a) in the case of a natural person — a person who is an insolvent under administration (within the meaning of the Corporations Act 2001); or

      (b) in the case of a body corporate — a body corporate that is an externally-administered body corporate (within the meaning of the Corporations Act 2001); or

      (c) in the case of a partnership — a partnership against which a creditor’s petition or a debtor’s petition is presented under Division 2 or 3 of Part IV of the Bankruptcy Act 1966.

      investigate, in relation to ASIC, means investigate in the course of performing any of ASIC’s functions or exercising any of ASIC’s powers.

      involved in: a person is involved in a contravention of a provision of legislation if, and only if, the person:

      (a) has aided, abetted, counselled or procured the contravention; or

      (b) has induced the contravention, whether by threats or promises or otherwise; or

      (c) has been in any way, by act or omission, directly or indirectly, knowingly concerned in or party to the contravention; or

      (d) has conspired with others to effect the contravention.

      judgment means a judgment, decree or order, whether final or interlocutory.

      law of a referring State or a Territory means a law of, or in force in, a referring State or a Territory but does not include a law of the Commonwealth in force in the referring State or the Territory.

      law of a State or Territory means a law of, or in force in, a State or Territory but does not include a law of the Commonwealth in force in the State or Territory.

      lawyer means a person who is admitted to the legal profession by a federal court or a Supreme Court of a State or Territory.

      lessee means the lessee under a consumer lease.

      lessor means the lessor under a consumer lease, and includes a person who is a lessor because of section 10.

      licence means an Australian credit licence.

      licensee means a person who holds a licence.

      licensing anniversary: see subsection 53(7).

      lodge with ASIC: see section 216.

      lower court means:

      (a) the Federal Magistrates Court; or

      (b) a court of a State or Territory that is not a superior court.

      malice: see subsection 16(2).

      matter includes an act, an omission, a body, a person or a thing.

      misleading: see section 13.

      mortgage means a mortgage to which the National Credit Code applies.

      mortgagee means the mortgagee under a mortgage, and


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