Examples of NCCP Act in a sentence
They can also work with you and the creditor to negotiate a repayment plan or hardship variation.Apply using the National Credit Code The National Consumer Credit Protection Act 2009 (NCCP Act) is the Australian law that governs consumer credit and is designed to protect consumers’ interests.
The MSHCP will serve as a HCP pursuant to Section 10(a)(1)(B) of the federal Endangered Species Act of 1973, as amended, as well as a Natural Communities Conservation Plan (NCCP) under the NCCP Act of 2001.
There are no provisions in the NCCP Act which relate to licensing when an individual is also a member of a professional association.
ASIC has used this power to regulate credit that is subject to exemptions under the NCCP Act, and it is possible that it may issue product intervention orders that regulate LatitudePay or other Latitude products;• Financial Accountability Regime: The Australian government has released draft legislation to implementthe proposed extension of provisions modelled on the Banking Executive Accountability Regime to registrable superannuation entity licensees and insurers regulated by APRA.
There are also new prescribed timeframes within which reporting to ASIC is required;• Product intervention power: The Corporations Act and the NCCP Act have been amended to provide ASIC with the power to make product intervention orders that regulate specific financial products.
Consumer protection has been elevated to the primary purpose of the CCCFA and a principle of responsible lending, consistent with aspects of the NCCP Act, has been introduced.
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However, so-called ‘interest free’ products are often selected by new energy technology vendors because the lack of NCCP Act obligations (and in particular the lack of responsible lending requirements)means higher approval rates (including to customers who should not be offered credit), and faster approval times (at the expense of appropriate credit assessment to ascertain customers’ ability to repay).
Consumer Credit Legislation Some of the Housing Loans are regulated under the National Consumer Credit Protection Act 2009 (Cth) (“NCCP Act”), which includes the National Credit Code contained in Schedule 1 of the NCCP Act (“Consumer Credit Legislation”).
She provided anoverview of the two laws: the Federal ESA HCP and the State NCCP Act.