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

Treasurer

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.

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.