that old Credit Code had, from time to time when it was in force, been valid Commonwealth legislation applying in that State or Territory; and

the new Credit Code (to the extent it contains provisions that correspond to provisions of the old Credit Code as in force immediately before commencement) were a continuation of that old Credit Code as so applying.

the proceedings were brought in a court before commencement in relation to a carried over instrument;

(b) the proceedings were brought in relation to a provision (the old provision) of the old Credit Code of a referring State or a Territory;

the proceedings were not enforcement proceedings, or appeal or review proceedings, in relation to an order of a court;

the proceedings had not been concluded or terminated before commencement;

either:

if the proceedings are primary proceedings—no final determination of any of the existing rights or liabilities at issue in the proceedings had been made before commencement; or

if the proceedings are interlocutory proceedings—this item applies to the primary proceedings to which the interlocutory proceedings relate.

the parties to the new proceedings are the same as the parties to the old proceedings;

subject to subitems (5) and (6) and to any order to the contrary made by the court, the court must deal with the new proceedings as if the steps that had been taken for the purposes of the old proceedings before commencement had been taken for the purposes of the new proceedings.

an interlocutory order was made before commencement for the purpose of, or in relation to, the old proceedings; and

that interlocutory order was in force immediately before commencement;

cancelling or varying rights or liabilities that a person has because of subitem (5);

substituting other rights or liabilities for rights or liabilities a person has because of subitem (5);

adding rights or liabilities to the rights or liabilities a person has because of subitem (5);

enforcing, or otherwise dealing with conduct contrary to, a right or liability a person has because of subitem (5) in the same way as it could enforce, or deal with, the right, liability or conduct if the right or liability had arisen under or because of an order made by the court in the exercise of federal jurisdiction under the new Credit Code.

make a person liable, under the new Credit Code, to any penalty (whether civil or criminal) provided for in an order referred to in subitem (2); or

enable enforcement proceedings, or appeal or review proceedings, in relation to such an order to be taken in a court under the new Credit Code; or

enable proceedings by way of appeal, or other review, of such an order to be taken in a court under the new Credit Code.

if the order is varied—the order had been made as so varied; or

if the order is set aside—the order had not been made.

proceedings that are brought in a tribunal under the old Credit Code of a referring State or a Territory before or after commencement; or

orders that are made by a tribunal under the old Credit Code of a referring State or a Territory before or after commencement; or

rights or liabilities arising in relation to proceedings that are brought in, or orders that are made by, a tribunal under the old Credit Code of a referring State or a Territory before or after commencement.

proceedings that are brought in a tribunal under the old Credit Code of a referring State or a Territory before or after commencement; or

orders that are made by a tribunal under the old Credit Code of a referring State or a Territory before or after commencement; or

rights or liabilities arising in relation to proceedings that are brought in, or orders that are made by, a tribunal under the old Credit Code of a referring State or a Territory before or after commencement.

a contract or other instrument that is not a carried over instrument; or

an order made by a court or tribunal before commencement; or

a right or liability under an order made by a court or tribunal before commencement; or

proceedings brought (including appeal, review or enforcement proceedings) in a court or tribunal before commencement, or a step in such proceedings; or

a right to:

appeal to a court or tribunal against an order made by a court or tribunal before commencement; or

apply to a court or tribunal for review of such an order; or

bring appeal or review proceedings, or enforcement proceedings, in relation to such an order.

was done before commencement by, under, or for the purposes of, a carried over provision of the old Credit Code of a referring State or a Territory; and

had an ongoing significance (see subitems (3) and (4)) immediately before commencement for the purposes of that Code;

the making of an instrument or order (but not including the making of an order by a court or tribunal); and

the making of an application or claim (but not including the making of an application or claim to a court or tribunal); and

the granting of an application or claim (but not including the granting of an application or claim by a court or tribunal); and

the making of an appointment or delegation; and

the commencement of a procedure or the taking of a step in a procedure (but not including the bringing of proceedings in a court or tribunal); and

requiring a person to do, or not to do, something (but not including a requirement contained in an order made by a court or tribunal); and

the giving of a notice or document.

if the thing done was the making of an instrument or order—the instrument or order was still in force immediately before commencement; or

if the thing done was the making of an application or claim—the application or claim had not been decided, and had not otherwise ceased to have effect, before commencement; or

if the thing done was the granting of an application or claim—the thing granted had not been revoked, and had not otherwise ceased to have effect, before commencement; or

if the thing done was the making of an appointment or delegation—the appointment or delegation had not been revoked, and had not otherwise ceased to have effect, before commencement; or

if the thing done was the commencement of a procedure or the taking of a step in a procedure—the procedure was still in progress immediately before commencement or was otherwise still having an effect; or

if the thing done was requiring a person to do, or not to do something—the requirement was still in force immediately before commencement; or

if the thing done was the giving of a notice or document, or the doing of some other thing—the notice or document (or the giving of the notice or document), or the thing (or the doing of the thing), had an ongoing effect or significance immediately before commencement for the purposes of the old Credit Code of the State or Territory.

was acquired, accrued or incurred under a carried over provision of the old Credit Code of a referring State or a Territory; and

was in existence immediately before commencement.

was acquired, accrued or incurred under a provision of the old Credit Code of a referring State or a Territory that was no longer in force immediately before commencement; and

was in existence immediately before commencement.

the provision of the old Credit Code (with such modifications (if any) as are necessary) under which the old right or liability was acquired, accrued or incurred; and

the other provisions of the old Credit Code (with such modifications (if any) as are necessary) that applied in relation to the old right or liability;

the starting point of which:

was known or had been determined before commencement (whether that starting point occurred or would occur before, on or after commencement); or

would have become known, or have been determined, after commencement if the old Credit Code of the referring State or the Territory had continued to apply (whether that starting point would have occurred before, on or after commencement); and

that had not ended at or before commencement;

a period for the doing of a thing specified or determined under the old Credit Code of a referring State or a Territory; or

a period specified or determined under a provision of the old Credit Code of a referring State or a Territory as the duration of a particular instrument or status.

under the old Credit Code of a referring State or a Territory, a process, a status of a person or body, or an instrument, commenced from a particular time before commencement; and

that process, status or instrument is continued after commencement for the purposes of the new Credit Code by a provision of this Schedule;

that occurred or arose before commencement under or as mentioned in a provision of the old Credit Code of a referring State or a Territory; and

that had a particular significance, status or effect for the purposes of a carried over provision of that Code (including because of an interpretive provision);

the carried over provision created an obligation in relation to the event, circumstance or thing (whenever it arose); or

the carried over provision provided for the event, circumstance or thing to be dealt with in a particular way; or

the carried over provision stated that the event, circumstance or thing (whenever it arose) was to be disregarded for the purposes of that provision or was not covered by that provision.

a law of a referring State or a Territory had effect before commencement:

to take or deem something to have happened or to be the case, or to have a particular effect, under or for the purposes of the old Credit Code of that State or Territory (or a provision of that Code); or

to give something an effect for the purposes of the old Credit Code of that State or Territory (or a provision of that Code) that it would not otherwise have had; and

that effect was continuing immediately before commencement;

starts on commencement; and

ends immediately before the Chapter 3 start day;

the licensee is neither an ADI nor a registrable corporation; and

the conduct is engaged in in relation to a contract or other instrument made on or after commencement.

starts on the day section 3 of the National Credit Act commences; and

ends on 30 June 2011, or a later day prescribed by the regulations.

a referring State or a Territory; or

an authority of a referring State or a Territory.

is not subject to any directions in the performance of such functions or the exercise of such powers; and

is not under a duty to perform such functions or exercise such powers.

appeal or review proceedings; or

enforcement proceedings;

starts on commencement; and

ends on 31 December 2010, or a later day prescribed by the regulations.

the person is registered to engage in the credit activity; or

the person holds a licence authorising the person to engage in the credit activity.

the person is subject to a requirement under subitem (1); and

the person engages in conduct; and

the conduct contravenes the requirement.

(a) the person engages in the credit activity on behalf of another person (the principal); and

the person is:

an employee or director of the principal or of a related body corporate of the principal; or

a credit representative of the principal; and

the person’s conduct in engaging in the credit activity is within the authority of the principal; and

the principal is registered to engage in the credit activity, or holds a licence authorising the principal to engage in the credit activity.

(a) the person engages in the credit activity on behalf of another person (the principal); and

the person is a representative of the principal; and

the person’s conduct in engaging in the credit activity is within the authority of the principal; and

the principal is exempted from subitems (1) and (2) under paragraph 41(1)(a), 41(3)(a) or 42(a).

starts immediately after the end of the period referred to in item 3; and

ends on the transition end day.

the person:

is registered to engage in the credit activity; and

has applied for a licence authorising the person to engage in the credit activity in accordance with section 36 of the National Credit Act; or

the person holds a licence authorising the person to engage in the credit activity.

the person is subject to a requirement under subitem (1); and

the person engages in conduct; and

the conduct contravenes the requirement.

(a) the person engages in the credit activity on behalf of another person (the principal); and

the person is:

an employee or director of the principal or of a related body corporate of the principal; or

a credit representative of the principal; and

the person’s conduct in engaging in the credit activity is within the authority of the principal; and

the principal:

is registered to engage in the credit activity, and has applied for a licence authorising the principal to engage in the credit activity in accordance with section 36 of the National Credit Act; or

holds a licence authorising the principal to engage in the credit activity.

(a) the person engages in the credit activity on behalf of another person (the principal); and

the person is a representative of the principal; and

the person’s conduct in engaging in the credit activity is within the authority of the principal; and

the principal is exempted from subitems (1) and (2) under paragraph 41(1)(a), 41(3)(a) or 42(a).

starts at commencement; and

ends on the transition end day.

the reference in paragraph 30(1)(a) of the National Credit Act to a person holding a licence were a reference to a person holding a licence or being registered; and

the reference in paragraph 30(1)(b) of the National Credit Act to a person holding a licence authorising the person to engage in a particular credit activity were a reference to a person holding a licence authorising the person to engage in a particular credit activity, or being registered to engage in a particular credit activity; and

the reference in paragraph 30(1)(c) of the National Credit Act to a requirement to hold a licence were a reference to a requirement to hold a licence or be registered; and

the reference in paragraph 30(1)(e) of the National Credit Act to a licensee were a reference to a licensee or registered person; and

the reference in subsection 30(2) of the National Credit Act to contravening section 29 of the National Credit Act were a reference to contravening section 29 of the National Credit Act or item 4 or 6 of this Schedule.

the reference in subsection 31(1) to a licensee were a reference to a registered person or licensee; and

the reference in subsection 31(1) to contravening section 29 of the National Credit Act were a reference to contravening section 29 of the National Credit Act or item 4 or 6 of this Schedule.

starts on 1 April 2010, or a later day prescribed by the regulations; and

ends on 30 June 2010, or a later day prescribed by the regulations.

the applicant has applied to be registered in accordance with item 11; and

the application makes a statement that the applicant is a member of the AFCA scheme; and

the application makes the statement set out in subitem (2) in relation to each of the following persons:

the applicant;

if the applicant is a body corporate—each director or secretary of the body corporate who would perform duties in relation to the credit activities to be authorised by the registration;

if the applicant is a partnership or the trustees of a trust—each partner or trustee who would perform duties in relation to the credit activities to be authorised by the registration.

a banning order or disqualification order under Part 2-4 of the National Credit Act is not in force against the person; and

(b) a banning order or disqualification order under Corporations Act 2001 is not in force against the person; andDivision 8 of Part 7.6 of the

the person is not banned from engaging in a credit activity under a law of a State or Territory; and

if the person is or has been registered—the person’s registration is neither suspended nor cancelled; and

an Australian financial services licence of the person is neither suspended, nor has been cancelled within the last 7 years, under:

(i) paragraph 915B(1)(d) or subparagraph 915B(4)(b)(iii) of the Corporations Act 2001 (which deals with suspension or cancellation because of mental or physical incapacity); or

(ii) Corporations Act 2001 (which deals with suspension or cancellation after offering a hearing); andsection 915C of the

if the person is not the trustees of a trust—the person is not insolvent; and

if the person is a natural person:

(i) the person is not disqualified from managing corporations under Corporations Act 2001; andPart 2D.6 of the

the person has not been convicted, within 10 years before the application is made, of serious fraud; and

a prescribed State or Territory order is not in force against the person.

the application is false in a material particular or materially misleading; or

there is an omission of a material matter from the application.

ASIC’s decision on the application; and

if the decision is to register the applicant—the day on which the applicant becomes registered; and

if the decision is not to register the applicant—the reasons for the decision.

conditions on the registration may be imposed, varied or revoked under item 14 or 15; and

the registration may be suspended under item 22, 23, 24 or 25; and

the registration may be cancelled under item 20, 21, 22, 23, 24 or 25; and

the registration may be varied under item 26; and

the registration may be cancelled, revoked, terminated or varied by or under later legislation; and

no compensation is payable if:

conditions on the registration are imposed, varied or revoked as referred to in paragraph (a); or

the registration is suspended, cancelled, varied, revoked or terminated as referred to in paragraphs (b) to (e).

impose conditions, or additional conditions, on a person’s registration; and

vary or revoke conditions imposed on a person’s registration.

on its own initiative; or

if the registered person lodges an application with ASIC for the imposition, variation or revocation.

to appear, or be represented, at a hearing before ASIC that takes place in private; and

to make submissions to ASIC in relation to the conditions.

ASIC cannot:

impose, vary or revoke a condition on the registration that, in ASIC’s opinion, has or would have the result of preventing the APRA body from being able to carry on all or any of its usual activities (being activities in relation to which APRA has regulatory or supervisory responsibilities); or

vary a condition so that it would, in ASIC’s opinion, become a condition that would have a result as described in subparagraph (i);

if ASIC imposes, varies or revokes a condition on the registration and paragraph (a) does not apply to that action, ASIC must, within one week, inform APRA of the action that has been taken.

subject to paragraphs (b) and (c), the powers that ASIC would otherwise have under item 14:

(i) to impose, vary or revoke a condition on the registration that, in ASIC’s opinion, has or would have the result of preventing the ADI from being able to carry on all or any of its banking business (within the meaning of the Banking Act 1959); or

to vary a condition so that it would, in ASIC’s opinion, become a condition that would have a result as described in subparagraph (i);

the following provisions apply in relation to a power to which paragraph (a) applies:

the procedures for the exercise of the power are the same as would apply if ASIC could exercise the power, except that the Minister must not exercise the power unless he or she has first considered advice from ASIC on the proposed action, being advice given after ASIC has consulted APRA about the proposed action;

ASIC (rather than the Minister) must still conduct any hearing required under paragraph 14(5)(a) and receive any submissions under paragraph 14(5)(b);

if ASIC imposes, varies or revokes a condition on the registration and paragraph (a) does not apply to that action, ASIC must, within one week, inform APRA of the action that has been taken.

starts on commencement; and

ends on the transition end day.

starts at the same time as the start of the period referred to in subitem 11(2); and

ends on the transition end day;

do all things necessary to ensure that the credit activities authorised by the registration are engaged in efficiently, honestly and fairly; and

comply with the conditions on the registration; and

comply with the credit legislation; and

take reasonable steps to ensure that its representatives comply with the credit legislation; and

take reasonable steps to ensure that clients of the registered person are not disadvantaged by any conflict of interest that arises wholly or partly in relation to credit activities engaged in by the registered person or its representatives; and

comply with any other obligations that are prescribed by the regulations.

may be given at any time; and

may be given to one or more particular registered persons, or to each registered person in one or more classes of registered persons, or to all registered persons; and

may require all the same information, or may contain differences as to the information they require; and

may require a statement containing information to be provided on a periodic basis, or each time a particular event or circumstance occurs, without ASIC having to give a further written notice.

the person is subject to a requirement under subitem (6); and

the person engages in conduct; and

the conduct contravenes the requirement.

the person is subject to a requirement under subitem (6); and

the person engages in conduct; and

the conduct contravenes the requirement.

the person is subject to a requirement to give ASIC information under subitem (2); and

the person engages in conduct; and

the conduct contravenes the requirement.

the person is subject to a requirement to give ASIC information under subitem (2); and

the person engages in conduct; and

the conduct contravenes the requirement.

the person is subject to a requirement to give ASIC or an authorised person assistance under subitem (1); and

the person engages in conduct; and

the conduct contravenes the requirement.

a person is registered; and

the person applies for a licence under section 36 of the National Credit Act; and

ASIC grants, or refuses to grant, the person the licence;

the registered person lodges with ASIC an application for the suspension or cancellation; or

the registered person does not engage, or ceases to engage, in credit activities; or

a banning order or disqualification order under Part 2-4 of the National Credit Act is in force against the registered person; or

(d) a banning order or disqualification order under Corporations Act 2001 is in force against the registered person; orDivision 8 of Part 7.6 of the

the registered person is banned from engaging in a credit activity under a law of a State or Territory; or

an Australian financial services licence of the registered person is suspended, or has been cancelled within the last 7 years, under:

(i) paragraph 915B(1)(d) or subparagraph 915B(4)(b)(iii) of the Corporations Act 2001 (which deals with suspension or cancellation because of mental or physical incapacity); or

(ii) Corporations Act 2001 (which deals with suspension or cancellation after offering a hearing); orsection 915C of the

if the registered person is not the trustees of a trust—the registered person is insolvent; or

the registered person is a single natural person and:

(i) is disqualified from managing corporations under Corporations Act 2001; orPart 2D.6 of the

is convicted of serious fraud; or

is incapable of managing his or her affairs because of physical or mental incapacity; or

a prescribed State or Territory order is in force against the registered person; or

the registered person is not a single natural person and a prescribed State or Territory order is in force against any of the following persons:

if the registered person is a body corporate—a director or secretary of the body corporate who performs duties in relation to credit activities;

if the registered person is a partnership or the trustees of a trust—a partner or trustee who performs duties in relation to credit activities.

the registered person has contravened an obligation under item 16 (which deals with general conduct obligations of registered persons); or

ASIC has reason to believe that the registered person is likely to contravene an obligation under that item; or

the application for the registration:

was false in a material particular or materially misleading; or

omitted a material matter; or

if the registered person is not a single natural person—any of the matters set out in subitem (2) applies to any of the following persons:

if the registered person is a body corporate—a director or secretary of the body corporate who performs duties in relation to credit activities;

if the registered person is a partnership or the trustees of a trust—a partner or trustee who performs duties in relation to credit activities.

a banning order or disqualification order under Part 2-4 of the National Credit Act is in force against the person;

(b) a banning order or disqualification order under Corporations Act 2001 is in force against the person;Division 8 of Part 7.6 of the

the person is banned from engaging in a credit activity under a law of a State or Territory;

an Australian financial services licence of the person is suspended, or has been cancelled within the last 7 years, under:

(i) paragraph 915B(1)(d) or subparagraph 915B(4)(b)(iii) of the Corporations Act 2001 (which deals with suspension or cancellation because of mental or physical incapacity); or

(ii) Corporations Act 2001 (which deals with suspension or cancellation after offering a hearing);section 915C of the

the person is insolvent;

(f) the person is disqualified from managing corporations under Corporations Act 2001;Part 2D.6 of the

the person is convicted of serious fraud;

the person is incapable of managing his or her affairs because of physical or mental incapacity.

to appear, or be represented, at a hearing before ASIC that takes place in private; and

to make submissions to ASIC on the matter.

ASIC cannot suspend or cancel the registered person’s registration if doing so would, in ASIC’s opinion, have the result of preventing the APRA body from being able to carry on all or any of its usual activities (being activities in relation to which APRA has regulatory or supervisory responsibilities), unless ASIC has first consulted APRA about the proposed action;

if ASIC suspends or cancels the registered person’s registration and paragraph (a) does not apply to that action, ASIC must, within one week, inform APRA of the action that has been taken.

a registered person is an ADI; or

(b) a related body corporate of a registered person is an ADI, and cancellation or suspension of the registered person’s registration would, in ASIC’s opinion, have the result of preventing the ADI from being able to carry on all or any of its banking business (within the meaning of the Banking Act 1959);

subject to paragraph (d), the powers that ASIC would otherwise have under this Division to cancel or suspend the registered person’s registration, or to revoke a suspension to which this subitem applied, are instead powers of the Minister;

the procedures for the exercise of a power to which paragraph (c) applies are the same as would apply if ASIC could exercise the power, except that the Minister must not exercise the power unless he or she has first considered advice from ASIC on the proposed action, being advice given after ASIC has consulted APRA about the proposed action;

ASIC (rather than the Minister) must still conduct any hearing required under paragraph 24(3)(a) and receive any submissions under paragraph 24(3)(b).

starts at commencement; and

ends on the transition end day.

starts at the same time as the start of the period referred to in subitem 11(2); and

ends immediately before commencement.

all references to a licensee were references to a registered person; and

all references to a licensee’s licence were references to a registered person’s registration.

all references to a licensee were references to a registered person or licensee; and

all references to licensees were references to registered persons or licensees; and

all references to a licensee’s licence were references to a registered person’s registration or licensee’s licence; and

the reference in subsection 67(1) of the National Credit Act to a person holding a licence authorising the person to engage in the credit activity were a reference to a person holding a licence authorising the person to engage in the credit activity, or being registered to engage in the credit activity.

a credit representative of a registered person has been authorised under subsection 64(1) or 65(1) of the National Credit Act (as those subsections apply because of subitem (1) or item 32A); and

the registered person is granted a licence under the National Credit Act; and

at the time the licence is granted, the authorisation of the credit representative is in force;

the references in paragraph 80(1)(a) and (5)(a) of the National Credit Act to a licence were references to a registration or licence; and

the reference in paragraph 80(5)(b) of the National Credit Act to section 54 of the National Credit Act were a reference to section 54 of the National Credit Act or item 23 of this Schedule; and

the reference in paragraph 86(1)(a) of the National Credit Act to a licence were a reference to a registration or licence.

all references to a licensee were references to a registered person or a licensee; and

the reference in paragraph 102(1)(a) of the National Credit Act to an audit report required under subsection 49(3) of the National Credit Act in relation to a licensee were a reference to an audit report required under subsection 49(3) of that Act in relation to a licensee, or an audit report required under subitem 17(3) of this Schedule in relation to a registered person; and

the reference in paragraph 106(a) of the National Credit Act to audit reports referred to in subsection 102(1) of the National Credit Act included a reference to the audit reports required under subitem 17(3) of this Schedule.

starts on the Chapter 3 start day; and

ends on the transition end day;

all references to a licensee were references to a registered person or licensee; and

all references to licensees were references to registered persons or licensees.

all references to a licensee were references to a registered person or licensee; and

all references to licensees were references to registered persons or licensees.

paragraphs 113(2)(d), 126(2)(d), 127(2)(d), 136(2)(d), 149(2)(d), 150(2)(d) and 160(3)(d) (which deal with including Australian credit licence numbers in credit guides);

subparagraphs 113(2)(h)(i), 126(2)(e)(i), 127(2)(e)(i), 136(2)(h)(i), 149(2)(e)(i), 150(2)(e)(i) and 160(3)(f)(i) (which deal with including information about internal dispute resolution procedures in credit guides).

all references to “this Act” were references to “this Act and Schedule 2 to the Transitional Act”; and

all references to civil penalty provisions included references to civil penalty provisions within the meaning of this Act.

the reference in subparagraph 243(1)(c)(i) to section 37 of the National Credit Act were a reference to section 37 of that Act or item 12 of this Schedule; and

the reference in subparagraph 243(1)(c)(ii) to section 54 or 55 of the National Credit Act were a reference to section 54 or 55 of that Act, or item 23 or 24 of this Schedule.

starts on the day section 3 of the National Credit Act commences; and

ends on the transition end day;

Divisions 1 and 2 of Part 2 (which deal with requirements to be registered etc. to engage in credit activities); and

Part 3 (which deals with the registration of persons to engage in credit activities); and

definitions in this Act and the National Credit Act, as they apply to references in the provisions referred to in paragraphs (a) and (b); and

instruments made for the purposes of any of the provisions referred to in paragraphs (a) to (c).

exempt:

a person; or

a person and all of the person’s credit representatives;

exempt a credit activity that is engaged in relation to a specified credit contract, mortgage, guarantee or consumer lease from all or specified provisions to which this Part applies; or

declare that provisions to which this Part applies apply in relation to a person, or a credit activity referred to in paragraph (1)(b), as if specified provisions were omitted, modified or varied as specified in the declaration.

exempt a class of persons from all or specified provisions to which this Part applies; or

exempt a credit activity (other than a credit activity referred to in paragraph (1)(b)) from all or specified provisions to which this Part applies; or

exempt a class of credit activities from all or specified provisions to which this Part applies; or

declare that provisions to which this Part applies apply in relation to a credit activity (other than a credit activity referred to in paragraph (1)(b)), or a class of persons or credit activities, as if specified provisions were omitted, modified or varied as specified in the declaration.

the text of the declaration was published by ASIC on its website; or

ASIC gave written notice setting out the text of the declaration to the person;

exempt a person or class of persons from all or specified provisions to which this Part applies; or

exempt a credit activity or a class of credit activities from all or specified provisions to which this Part applies; or

provide that the provisions to which this Part applies apply as if specified provisions were omitted, modified or varied as specified in the regulations.

before commencement, a licensee who is the credit provider under a credit card contract obtained express consent, from the consumer who is the debtor under the contract, to the licensee making credit limit increase invitations; and

the consent is expressed to relate to any credit limit increase invitations that the licensee may, from time to time, make to the consumer; and

before obtaining the consumer’s consent, the licensee informed the consumer of the matters mentioned in paragraphs 133BF(4)(a), (b) and (c) of the amended Act; and

the consumer did not withdraw the consent before commencement;

entered into before 1 March 2013; and

for which the debtor applied to the credit provider in accordance with former subsections 72(1) and (2) of the new Credit Code (as in force before 1 March 2013).

entered into before 1 March 2013; and

for which the lessee applied to the lessor in accordance with former subsections 72(1) and (2), and former 1 March 2013);section 177, of the new Credit Code (as in force before

so far as the sections apply in relation to entering a credit card contract—to credit card contracts entered into on or after the commencement of that Part; and

so far as the sections apply in relation to remaining in a credit card contract, or increasing the credit limit of a credit card contract:

to credit card contracts entered into on or after the commencement of that Part; and

to credit card contracts entered into before the commencement of that Part.

starting at the start of 22 June 2022; and

(b) ending at the end of the day before the day on which Treasury Laws Amendment (2022 Measures No. 1) Act 2022 commences.Part 2 of Schedule 4 to the

(a) an item of Treasury Laws Amendment (Registries Modernisation and Other Measures) Act 2020;Part 2 of Schedule 1 to the

(b) an item of Financial Sector Reform (Hayne Royal Commission Response—Better Advice) Act 2021;Part 3 of Schedule 1 to the

(c) an item of Treasury Laws Amendment (2021 Measures No. 1) Act 2021.Part 4 of Schedule 2 to the

(a) the amendments made by Treasury Laws Amendment (2022 Measures No. 1) Act 2022 had been made at the start of 21 June 2022; andPart 1 of Schedule 4 to the

the amendments made by the postponed items had not been made at the start of 22 June 2022 and had had no effect during the interim period.

(a) the amendments made by Treasury Laws Amendment (2022 Measures No. 1) Act 2022 had been made at the start of 21 June 2022; andPart 1 of Schedule 4 to the

in particular, the amendments made by the postponed items had not been made at the start of 22 June 2022 and had had no effect during the interim period.

a function or power conferred by the National Credit Act or this Act was delegated to a person; and

the delegation was in force immediately before 22 June 2022; and

but for this subitem, the delegation would have ceased to have effect at the start of 22 June 2022 because of any of the amendments made by the postponed items;

an act or thing done by the delegate in the interim period is, and is taken always to have been, as valid a performance or exercise of the function or power as it would have been if the delegation had continued in force throughout the interim period; and

(e) the delegation has effect, on and after the day Treasury Laws Amendment (2022 Measures No. 1) Act 2022 commences, as if it had been made at the time that section commences.section 1 of the

if the amending item is covered by a notifiable instrument in force under paragraph (2)(a) of this item—the day the instrument specifies for the item;

if the amending item is covered by a notifiable instrument in force under paragraph (2)(b) of this item that specifies matters for the item that include the relevant matter—the day the instrument specifies for the item in relation to those matters;

1 July 2026.

may by notifiable instrument specify days for amending items for the purposes of paragraph (1)(a); and

may by notifiable instrument specify days and matters for amending items for the purposes of paragraph (1)(b).

on or after the day that the instrument is made; and

on or after the commencement day for the amending item.

an amending item amends a provision of the National Credit Act; and

before the application day for the amendment made by the amending item, as applying in relation to a matter, ASIC started doing a thing that relates to that matter under the provision as in force immediately before the commencement day for the amending item; and

immediately before that application day, ASIC had not finished doing that thing; and

on and after that application day, doing that thing is within the powers or functions of the Registrar;

ASIC may finish doing that thing as if that thing were being done by the Registrar in performing or exercising the Registrar’s functions or powers; and

to the extent that ASIC does not finish doing that thing under paragraph (e), the Registrar may finish doing that thing in performing and exercising the Registrar’s functions and powers.

an application under section 36 of the National Credit Act for a licence;

an application under paragraph 45(2)(b) of the National Credit Act for conditions on a licence to be imposed, varied or revoked.

a banning order;

a disqualification order described in paragraph 86(2)(a) of the National Credit Act;

was made under subsection 86(2) of that Act; and

(b) is in force immediately before the commencement of Financial Sector Reform (Hayne Royal Commission Response—Stronger Regulators (2019 Measures)) Act 2020;Part 2 of Schedule 4 to the

subsection 118(3A);

subsection 123(3A);

subsection 131(3A);

subsection 133(3A).

section 124B;

section 133CB;

section 147A;

section 156A.

the making of an unsolicited communication on or after the day that Part commences; and

the arranging for the making of an unsolicited communication if the arrangement is entered into on or after that day.

section 124C;

section 133CE;

section 147B;

section 156C.

section 117;

section 130;

section 140;

section 153.

section 133CC;

section 133CD;

section 156B.

the referral is made on or after the commencement of that Part; and

the licensee was not, immediately before that commencement, under a contractual obligation to make the referral.

the contract was:

entered into on or after the day that Part 4 of the amending Schedule commences; or

amended, on or after that day, to extend the term of the contract; and

the conduct occurs on or after the day that Part 4 of the amending Schedule commences.

a constrained document; or

information contained in a constrained document; or

constrained information;

section 111;

section 112;

section 113;

section 114A;

section 115;

section 116;

section 117;

section 118;

section 119;

section 120;

section 121;

section 124;

section 171;

section 174;

section 175AA;

section 175AC;

section 175H;

section 179;

section 179GA;

section 179VB;

section 179VC.

the making of an unsolicited communication on or after the day that Part commences; and

the arranging for the making of an unsolicited communication if the arrangement is entered into on or after that day.

due to subitem (1), a licensee is required, under a provision of the commencement day; andDivision 5 of Part 2-2 of the National Credit Act, to do a thing in relation to a reportable situation that arose before

that thing must be done within a period of a specified number of days after the licensee first knows about, or is reckless with respect to, particular matters; and

that period began before the commencement day;