Australian Capital Territory

consumer credit (administration) regulations
This consolidation has been prepared by the ACT Parliamentary Counsel’s Office
As at 1 November 1996
TABLE OF PROVISIONS
Regulation
	1.	Citation
	2.	Commencement
	3.	Interpretation
	4.	Commissions
	5.	Registration of undertakings

Citation
1.  These Regulations may be cited as the Consumer Credit  (Administration) Regulations.1
Commencement
2.  These Regulations commence on the day on which they are notified in the Gazette.

Interpretation
3.  In these Regulations, unless the contrary intention appears—
“registration number” has the same meaning as in The Corporations Law;
 “the Act” means the Consumer Credit  (Administration) Act 1996.
Commissions
4.  (1)  For the purposes of subsection 35 (2) of the Act, the prescribed maximum commission is—
	(a)	an amount not exceeding 2% of so much of the amount negotiated or obtained as does not exceed $5,000 and, where the amount negotiated or obtained exceeds $5,000, an additional amount not exceeding 1.5% of so much of that amount as exceeds $5,000; or
	(b)	$6.50;
whichever is the greater.
(2)  For the purposes of paragraph 35 (5) (b) of the Act, the prescribed rate is 18% per annum.
Registration of undertakings
5.  For the purposes of paragraph 106 (1) (a) of the Act, the following particulars are prescribed:
	(a)	in the case of an undertaking given by a natural person—
	(i)	the name and, where applicable, the business name of the person;
	(ii)	the person’s residential address, business address, telephone number and fax number; and
	(iii)	a copy of the undertaking;
	(b)	in the case of an undertaking given by a body corporate—
	(i)	the registration number of the body corporate;
	(ii)	the address of the registered office and the telephone number and fax number of the body corporate; and
	(iii)	a copy of the undertaking.

NOTES
1.	Subordinate Law No. 25, 1996 (in force under the Consumer Credit (Administration) Act 1996); made on 30 October 1996; notified in the ACT Gazette on 1 November 1996; commenced on 1 November 1996.
2.	The Legislation (Republication) Act 1996 (No. 51, 1996) authorises the Parliamentary Counsel in preparing a law for republication, to make certain editorial and other formal amendments in accordance with current legislative drafting practice.  Those amendments make no change in the law.  Amendments made pursuant to that Act do not appear in the Table of Amendments but details may be obtained on request from the Parliamentary Counsel’s Office.

Table of Subordinate Laws
Regulation
No.	Date of making	Date of 
notification 
in Gazette	Date of 
commencement	Application, saving or transitional provisions	

					

Table of Amendments
ad. = added or inserted      am. = amended     rep. = repealed      rs. = repealed and substituted

Provision	How affected