Federal Register of Legislation - Australian Government

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SLI 2011 No. 67 Regulations as made
These Regulations amend the National Consumer Credit Protection Regulations 2010 relating to break fees on fixed rate loans.
Administered by: Treasury
Made 12 May 2011
Registered 13 May 2011
Tabled HR 23 May 2011
Tabled Senate 15 Jun 2011
Date of repeal 09 Aug 2013
Repealed by Treasury (Spent and Redundant Instruments) Repeal Regulation 2013
This Legislative Instrument has been subject to a Motion to Disallow:
Motion Date:
22-Jun-2011
Expiry Date:
14-Sep-2011
House:
Senate
Details:
Full
Resolution:
Negatived
Resolution Date:
22-Jun-2011
Resolution Time:
16:05
Provisions:

Commonwealth Coat of Arms

National Consumer Credit Protection Amendment Regulations 2011 (No. 3)1

Select Legislative Instrument 2011 No. 67

I, PROFESSOR MARIE BASHIR, AC, CVO, Administrator of the Government of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the National Consumer Credit Protection Act 2009.

Dated 12 May 2011

MARIE BASHIR

Administrator

 

By Her Excellency’s Command

WAYNE SWAN


1              Name of Regulations

                These Regulations are the National Consumer Credit Protection Amendment Regulations 2011 (No. 3).

2              Commencement

                These Regulations commence on 1 July 2011.

3              Amendment of National Consumer Credit Protection Regulations 2010

                Schedule 1 amends the National Consumer Credit Protection Regulations 2010.


Schedule 1        Amendment

(regulation 3)

 

[1]           Subregulation 79A (3), definition of break fee, paragraph (c)

substitute

                (c)    to the part of the credit provider’s loss, arising from the early repayment, that is a result of differences in interest rates.


Note

1.       All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See http://www.frli.gov.au.