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Consumer Credit (Western Australia) Act 1996: Consumer Credit and Trade Measurement Amendment Bill 2006 (Qld)

Uniform Legislation and Statutes Review Committee· 25 May 2006general_report

The WA parliamentary committee reviewed the Consumer Credit and Trade Measurement Amendment Bill 2006 (Qld), focusing on its implications for WA's Consumer Credit Code. The Bill aimed to facilitate electronic transactions and extend the mandatory comparison rate scheme. The committee identified 'Henry VIII' clauses, raising concerns about parliamentary sovereignty, but ultimately recommended approval if the Legislative Council considers a draft order adopting the Bill.

Impact

Consumers and credit providers in Western Australia will be affected by changes to consumer credit regulations, particularly regarding electronic transactions and the mandatory comparison rate scheme. The changes aim to balance consumer protection with modernising credit practices.

financepublic_sectorconsumer credit codeelectronic transactionsmandatory comparison rateHenry VIII clauseuniform legislationconsumer protectioncredit regulationsfinancial servicesWestern AustraliaQueensland

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