Page 2250 - Week 07 - Thursday, 16 June 1994

CERTAIN LICENSING AND CONTRACTUAL REQUIREMENTS OF THE

CREDIT ACT.

FINALLY, THERE IS AN AMENDMENT TO THE CREDIT ACT TO ALLOW

CREDIT PROVIDERS TO BE REIMBURSED FOR FINANCIAL INSTITUTIONS

DUTY. VICTORIA, NEW SOUTH WALES AND QUEENSLAND CREDIT

LEGISLATION ALLOWS A CREDIT PROVIDER TO PASS ON TO

CONS ANY LIABILITY THEY MAY INCUR IN RELATION TO

FINANCIAL INSTITUTIONS DUTY.

THE INCLUSION OF FINANCIAL INSTITUTIONS DUTY AS A PERMITTED

CHARGE IS CONSISTENT WITH OTHER TYPES OF CHARGES ALREADY

PERMITTED BY THE ACT.

MADAM SPEAKER, THE CREDIT (AMENDMENT) BILL FURTHER

DEMONSTRATES THIS GOVERNMENTS COMMITMENT TO

PROMOTING SOCIAL JUSTICE THROUGH FAIR TRADING IN THE

MARKETPLACE. THIS ACHIEVEMENT HAS BEEN RECOGNISED BY THE

AUSTRALIAN CONSUMERS ASSOCIATION GIVING THE A.C.T. THE

HIGHEST RATING OF ALL CONSUMER AFFAIRS MINISTERS AROUND

THE COUNTRY FOR THE SECOND CONSECUTIVE YEAR

MADAM SPEAKER I COMMEND THIS BILL TO THE ASSEMBLY.

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