SCHEDULE 1 - Amendments to the Consumer Credit (Tasmania) Regulations

PART 1 - Preliminary

1.    Object

The object of this Schedule is to amend the Consumer Credit (Tasmania) Regulations in conformity with the Consumer Credit (Bill Facilities) Amendment Regulation (No. 1) 2007 of Queensland.

PART 2 - Amendments to the Consumer Credit (Tasmania) Regulations

1.    Replacement of s 3 (Definition)

Section 3 –

omit, insert –

3.     Definitions

'In this regulation –

authorised deposit-taking institution has the meaning given under the Banking Act 1959 (Cwlth), section 5(1).

the Code means the Consumer Credit Code.'.

2.    Insertion of new s 5B

After section 5A –

insert –

5B.     Application of Code to provision of credit under bill facilities

'The Code applies to the provision of credit arising out of a bill facility unless the credit is provided by an authorised deposit-taking institution.'.

3.    Amendment of section 6F (Authorised deposit-taking institutions-exemption from Code)

Section 6F(2) –

omit.

Displayed and numbered in accordance with the Rules Publication Act 1953 .

Notified in the Gazette on 21 May 2008

This proclamation is administered in the Department of Justice.

EXPLANATORY NOTE

(This note is not part of the proclamation)

This proclamation amends the Consumer Credit (Tasmania) Regulations in conformity with the Consumer Credit (Bill Facilities) Amendment Regulation (No. 1) 2007 of Queensland.