AUSTRALIAN CAPITAL TERRITORY

Credit (Amendment) Ordinance 1987
No. 4 of 1987
I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Ordinance under the Seat of Government (Administration) Act 1910. 
Dated 19 February 1987.
	N. M. STEPHEN
	Governor-General
By His Excellency’s Command,
G.  SCHOLES
Minister of State for Territories

An Ordinance to amend the Credit Ordinance 1985
Short title
1.  This Ordinance may be cited as the Credit (Amendment) Ordinance 1987.1
Principal Ordinance
3.  In this Ordinance, “Principal Ordinance” means the Credit Ordinance 1985.2
Variation of application of Ordinance
3.  Section 19 of the Principal Ordinance is amended—
	(a)	by omitting from sub-section (1) “regulations may” and substituting “Minister may, by notice published in the Gazette,”;
	(b)	by omitting from sub-section (1) “regulations” (second occurring) and substituting “notice”;
	(c)	by omitting from paragraph (1) (e) “or” (last occurring);
	(d)	by adding at the end of sub-section (1) the following word and paragraph:
“; or	(g)	have effect subject to any exemption or exception that has been declared under a corresponding law.”;
	(e)	by inserting after sub-section (1) the following sub-section:
“(1A)  A declaration made under sub-section (1) shall take effect from the date of publication in the Gazette, or, where a later date is specified in the notice published in the Gazette, from the date specified.”;
	(f)	by omitting from sub-section (2) “Regulations” (first occurring) and substituting “A notice given”;
	(g)	by omitting from paragraph (2) (a) “regulations” and substituting “declaration”;
	(h)	by omitting from paragraph (2) (b) “regulations” (first occurring) and substituting “declaration”;
	(i)	by omitting from paragraph (2) (b) “regulations” (second occurring) and substituting “notice”;
	(j)	by inserting after sub-section (2) the following sub-section:
“(3)  In this section ‘corresponding law’ means a law for the regulation of the provision of credit, being a law of a State or Territory declared under section 17 to be a recognized State.”; and
	(k)	by omitting from sub-section (4) “regulation” (wherever occurring) and substituting “declaration”.
4.  After section 19 of the Principal Ordinance the following section is inserted in Part I:
Notice of variation to be laid before Parliament
“19A.  (1)  The Minister shall cause a copy of a declaration made by the Minister under sub-section 19 (1) to be laid before each House of the Parliament within 15 sitting days of that House after the day on which the declaration was made.
“(2)  If a declaration referred to in sub-section (1) is not laid before each House of the Parliament in accordance with that sub-section, it shall be void and of not effect.
“(3)  The provisions of sub-sections 12 (4) to (7) (inclusive) of the Seat of Government (Administration) Act 1910 apply in relation to a declaration laid before a House of the Parliament under sub-section (1) as if the references in those sub-sections to an Ordinance were references to such a declaration.
“(4)  In the application, by virtue of sub-section (3), of the Provisions of sub-sections 12 (6) and (6A) of the Seat of Government (Administration) Act 1910, references in those sub-sections to sub-section 12 (3) of that Act shall be read as references to sub-section (2) of this section.”.

NOTES
1.	Notified in the Commonwealth of Australia Gazette on 24 February 1987.
2.	No. 5, 1985 as amended by Nos. 39, 60 and 67, 1985; Nos. 29, 30, 56 and 72, 1986.