LNAA: Annotated National Credit Code, 5th edition

The Annotated National Credit Code has a reputation as the essential guide to consumer credit regulation in Australia. It is an invaluable reference for all involved in Australian consumer financial services.

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Book
ISBN/ISSN: 9780409336160
Release Date: September 01, 2014
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AUD$ 168.00
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eBook
ISBN/ISSN: 9780409336177
Release Date: September 01, 2014
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AUD$ 176.41
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Product description

This book is written in plain English and is a user friendly practical guide for business, regulators, external dispute resolution schemes, consultants, compliance officers, credit agencies, consumer advocates and lawyers alike. It is not designed to be simply a 'legal' text.

This fifth edition of the Annotated National Credit Code is a comprehensive update to the fourth edition. This book highlights the Code’s key features, with practical guidance on its interpretation and application. It includes an overview of the ASIC licensing system, the responsible lending requirements, the responsibilities placed upon credit providers, including credit enforcement issues and the penalty regime for breaches. It also includes an analysis of the new regimes for small amount credit contracts, reverse mortgages, consumer leases and the revised financial hardship regime.

The Annotated National Credit Code is an essential handbook for anyone who works with consumer credit in Australia. This includes responsible managers of Australian credit licence holders, lawyers and in-house counsel, compliance officers, auditors, product development, sale and marketing personnel in the financial services industry, credit and enforcement officers, consumer advocates and consumer representatives seeking to understand the National Credit Code’s (Code) requirements.

The work includes subsection-level annotations to the legislation, detailed amendment histories and comparative tables, and practical guidance as to the impact of recent legislation reforms. The commentary covers all types of consumer credit – including all forms of consumer credit contracts, home loans, residential investment loans, credit cards, consumer leases and point of sale finance. It covers the life of a credit contract or consumer lease, from initial marketing through to enforcement and financial hardship. It also discusses all key requirements of the national credit regime, such as responsible lending and additional disclosure requirements, such as key facts sheets.

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Table of contents

Introduction


Overview of the National Consumer Credit Protection Act


Overview of the National Credit Code

Table of Cases


Table of Statutes



National Credit Code


Comparative table


Table of Provisions


Legislative history



Part 1 – Preliminary


Part 2- Credit contracts


Part 3 – Related mortgages and guarantees


Part 4 – Changes to obligations under credit contracts, mortgages and guarantees


Part 5 – Ending and enforcing credit contracts, mortgages and guarantees


Part 6 – Penalties for defaults of credit providers


Part 7 – Related sale contracts


Part 8 – Related insurance contracts


Part 9 – Advertising and related conduct


Part 10- Comparison rates


Part 11- Consumer leases


Part 12 – Miscellaneous


Part 13 – Principal definitions


Part 14 – Miscellaneous provisions relating to interpretation



National Consumer Credit Protection Regulations 2010


Table of provisions


Legislative history


Regulations


Index