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Fair Trading (Consumer Contracts) Bill
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Victorian Legislation Parliamentary Documents
EXPLANATORY MEMORANDUM
General
This Bill amends the Fair Trading Act 1999 to enable regulations to be
made to prescribe classes of consumer credit contract to which the provisions
of Part 2B of the Fair Trading Act 1999 will apply.
The Bill also amends new Division 2A of Part 4 of the Fair Trading Act
1999 to increase the threshold for the application of the telephone marketing
agreement provisions to agreements the consideration for which exceeds
$100.
Clause Notes
Clause 1 sets out the purpose of the Bill.
Clause 2 sets out that the Bill (except for proposed sections 4 and 5) comes
into operation on the day after it receives the Royal Assent.
Proposed sections 4 and 5 will commence on 30 August 2004
which is the date on which section 7 of the Fair Trading
(Further Amendment) Act 2003 will commence, inserting new
Division 2A of Part 4 (Telephone Marketing Agreements) into
the Fair Trading Act 1999.
Clause 3 amends section 32V(a) of the Fair Trading Act 1999 to provide
that regulations may be made prescribing classes of consumer
credit contract to which Part 2B of the Fair Trading Act 1999
(Unfair Terms in Consumer Contracts) will apply.
Clause 4 amends section 67A(1)(d)(ii) of the Fair Trading Act 1999 to
substitute $100 for $50.
Clause 5 amends section 67H(7) of the Fair Trading Act 1999 to reflect
the fact that the definitions of "raffle", "lottery" and "ticket" now
appear in the Gambling Regulation Act 2003.
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551191 BILL LA CIRCULATION 13/5/2004