Australian Securities and Investments Commission

National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 — Paragraph 41(3)(d) of Schedule 2 — Declaration

National Consumer Credit Protection Act 2009 — Paragraph 109(3)(d) —   Declaration

Enabling provision

1. The Australian Securities and Investments Commission (ASIC) makes this instrument under:

(a) paragraph 41(3)(d) of Schedule 2 to the National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 (the Transitional Credit Act); and

(b) paragraph 109(3)(d) of the National Consumer Credit Protection Act 2009 (the Credit Act).

Title

2. This instrument is ASIC Class Order [CO 10/907].

Commencement

3. This instrument commences on the day it is registered under the Legislative Instruments Act 2003.

Note: An instrument is registered when it is recorded on the Federal Register of Legislative Instruments (FRLI) in electronic form: see Legislative Instruments Act 2003, s 4 (definition of register).  The FRLI may be accessed at http://www.frli.gov.au/.

Declaration

4. ASIC declares that the provisions to which Part 5 of Schedule 2 to the Transitional Credit Act applies apply in relation to all persons as if Part 4 of the National Consumer Credit Protection (Transitional and Consequential Provisions) Regulations 2010 were modified or varied as follows:

(a) in paragraph 14B(1)(c) before “it”, insert “on and after 1 January 2011,”;

(b) in paragraph 14C(1)(c) omit “1 October 2010,”, substitute “1 January 2011,”.

5. ASIC declares that the provisions to which Part 2-6 of the Credit Act applies apply in relation to all persons as if Part 2-4 of the National Consumer Credit Protection Regulations 2010 were modified or varied by, in paragraph 23C(1)(c), omitting “on and after 1 October 2010,”.

Dated this 26th day of September 2010

Signed by Stephen Yen PSM

as a delegate of the Australian Securities and Investments Commission