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because it is part of a nationally agreed code and our capacity to change the code is limited indeed, particularly because of the size of our jurisdiction. I hope and trust that members will respect the amount of work that has gone into the process of producing the code and will permit the code to operate in the spirit that that code can be changed not by just the Assembly voting to do so but by a process of consultation with other jurisdictions. I commend the Bill to the Assembly.

Debate (on motion by Mr Connolly) adjourned.

LEAVE OF ABSENCE TO MEMBER

Motion (by Mr Berry) agreed to:

That leave of absence be given to Mr Osborne for today, 22 June 1995.

CONSUMER CREDIT (CONSEQUENTIAL PROVISIONS) BILL 1995

MR HUMPHRIES (Attorney-General and Minister for Consumer Affairs) (11.00): Mr Speaker, I present the Consumer Credit (Consequential Provisions) Bill 1995, together with its explanatory memorandum.

Title read by Clerk.

MR HUMPHRIES: I move:

That this Bill be agreed to in principle.

The Consumer Credit (Consequential Provisions) Bill 1995 deals with the consequential and transitional amendments required upon the commencement of the new Consumer Credit (Australian Capital Territory) Code. The Consumer Credit (Consequential Provisions) Bill 1995 is an important aspect of the legislative initiative introducing the new Consumer Credit Code into the ACT. The Bill provides for consequential amendments in respect of Acts having a relationship to the old Credit Act 1985. Those Acts will now be amended to include a reference to the new Consumer Credit (Australian Capital Territory) Code.

The Bill also amends the old Credit Act 1985, stipulating that the Act will not apply to new credit contracts made after the commencement of the new Consumer Credit (Australian Capital Territory) Code. However, the Bill will allow the old Credit Act 1985 to operate in respect of credit contracts made before the commencement of the new Consumer Credit (Australian Capital Territory) Code. By having a separate Bill dealing with consequential and transitional amendments, efficient drafting practice will be facilitated and future revision or repeal will be greatly assisted. I commend this Bill to the Assembly.

Debate (on motion by Mr Connolly) adjourned.

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