Commonwealth Numbered Regulations

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ELECTRONIC TRANSACTIONS AMENDMENT REGULATIONS 2010 (NO. 1) (SLI NO 96 OF 2010) - SCHEDULE 1

Amendments

(regulation 3)

 

[1]           Before regulation 1

insert

Part 1                  Preliminary

   

[2]           After regulation 3

insert

Part 2                  Exemptions

   

[3]           After regulation 7

insert

Part 3                  Electronic communications under National Consumer Credit Protection Act 2009

   

8               Application

                This Part applies to electronic communications under the National Consumer Credit Protection Act 2009 .

9               Definitions

                In this Part:

"debtor" has the same meaning as in subsection 204 (1) of Schedule 1 to the National Consumer Credit Protection Act 2009 .

"guarantor" has the same meaning as in subsection 204 (1) of Schedule 1 to the National Consumer Credit Protection Act 2009 .

"mortgage" has the same meaning as in subsection 5 (1) of the National Consumer Credit Protection Act 2009 .

"mortgagor" has the same meaning as in subsection 5 (1) of the National Consumer Credit Protection Act 2009 .

10             Manner of giving notice or other document

         (1)   A debtor, mortgagor or guarantor may consent to the giving of documents by electronic communication only after being told that, if written consent is given:

                (a)    paper documents may no longer be given; and

               (b)    electronic communications must be regularly checked for documents; and

                (c)    consent to the giving of documents by electronic communication may be withdrawn at any time.

         (2)   A credit provider may, with the written consent of the debtor, mortgagor or guarantor, serve a notice or other document on the debtor, mortgagor or guarantor by:

                (a)    making the notice or other document available for a reasonable period on the credit provider's information system for retrieval by electronic communication by the debtor, mortgagor or guarantor; and

               (b)    promptly notifying the debtor, mortgagor or guarantor by electronic communication that the notice or other document is available for retrieval on that information system and the nature of the notice or other document; and

                (c)    providing the debtor, mortgagor or guarantor with the ability to retrieve the notice or other document by electronic communication.

         (3)   A person, other than a debtor, mortgagor or guarantor, may consent to the giving of documents by electronic communication only after being told that, if written consent is given:

                (a)    paper documents may no longer be given; and

               (b)    electronic communications must be regularly checked for documents; and

                (c)    consent to the giving of documents by electronic communication may be withdrawn at any time.

         (4)   If a notice or other document is given by sending it to a nominated electronic address or in a manner described in this regulation:

                (a)    it must be in a format that allows it to be saved to an electronic file and to be printed; and

               (b)    at the time it was sent or was made available on the credit provider's information system, it would have been reasonable to expect that the intended recipient would be able to save it to an electronic file and print it.

         (5)   A nomination or consent ceases to have effect when it is cancelled or withdrawn by the person who gave it.

11             Date of faxed notice or other document

                A notice or other document that is sent by fax is taken to be given on the later of the following dates:

                (a)    the date on the notice or other document;

               (b)    the date indicated in a report by the transmitting fax machine that the notice or other document was transmitted to the addressee.

[4]           Schedule 1, after item 85

insert

86

The following provisions of Schedule 1 to the National Consumer Credit Protection Act 2009 :

   (a)  section 8;

   (b)  paragraph 57 (1) (a);

   (c)  paragraph 57 (1) (b);

   (d)  paragraph 59 (2) (a);

   (e)  paragraph 61 (1) (a);

   (f)  paragraph 88 (1) (a);

   (g)  paragraph 88 (2) (a);

   (h)  paragraph 99 (1) (b);

    (i)  subsection 102 (1);

    (j)  paragraph 130 (5) (a);

Subsection 8 (1), Division 2 of Part 2 and sections 14 and 15

 

   (k)  paragraph 130 (6) (a);

    (l)  subsection 178 (1);

  (m)  a provision that provides that duty is charged on a transaction only if the transaction is effected or evidenced by an instrument or document in hard copy form;

   (n)  a provision that provides that duty is charged on an instrument only if the instrument is in hard copy form

 

86A

The following provisions of the National Consumer Credit Protection Regulations 2010 :

   (a)  paragraph 87 (a);

   (b)  paragraph 87 (c);

   (c)  a provision that provides that duty is charged on a transaction only if the transaction is effected or evidenced by an instrument or document in hard copy form;

   (d)  a provision that provides that duty is charged on an instrument only if the instrument is in hard copy form

subsection 8 (1), Division 2 of Part 2 and sections 14 and 15




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