Victorian Current Acts Victorian Current Acts(1) The Consumer Credit (Victoria) Act 1995 does not have effect during any transition period applying in respect of—
(a) the undertaking of Challenge;
(b) the transferring undertaking within the meaning of Part 3;
(c) the transferring undertaking within the meaning of Part 4;
(d) the business of Challenge—
and the Credit Act 1984 (as in force before the commencement of Part 2 of the Consumer Credit (Victoria) Act 1995 ) applies in respect of that undertaking or business during that transition period.
(2) If a transition period applies in respect of an undertaking or business referred to in subsection (1), sections 19A(1) and 19B of the Credit Act 1984 apply in respect of the undertaking or business as if a reference in those sections to "the commencement day" were a reference to the day after the day on which the transition period ends.
(3) The Minister administering the Credit Act 1984 , by notice published in the Government Gazette, may extend, or further extend, a transition period referred to in subsection (1) but not so that it exceeds a total period of 6 months.
(4) In this section, "transition period" means—
(a) in relation to the undertaking of Challenge, the period beginning at the commencement time;
(b) in relation to the transferring undertaking within the meaning of Part 3, the period beginning at the commencement time;
(c) in relation to the transferring undertaking within the meaning of Part 4, the period beginning on the day on which Part 4 comes into operation;
(d) in relation to the business of Challenge, the period beginning on the day on which this section comes into operation or the date of commencement of Part 2 of the Consumer Credit (Victoria) Act 1995 , whichever is the later—
and ending on such date, being not later than 6 months, after the beginning of the period, as is declared in relation to the particular period, by the Minister administering the Credit Act 1984 by notice published in the Government Gazette, to be the end of that period.