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Legislative Assembly for the ACT: 1996 Week 8 Hansard (27 June) . . Page.. 2530 ..
The Bill will also continue the existence of the ACT Credit Tribunal as the main forum for the enforcement of the provisions of the Code. Additionally, it will act as the appellate body for credit providers and finance brokers against whom disciplinary action has been taken.
Further, the Bill will preserve the power of the Minister for Consumer Affairs to order a public inquiry into matters relating to credit. In the Bill, old Inquiry provisions under the Credit Act 1985 are not carried forward, but instead have been replaced by more modern provisions by applying the Inquiries provisions under the Inquiries Act 1991.
In the Bill the important disciplinary power of the Director of Consumer Affairs to request undertakings from credit providers and finance brokers is preserved. Under the power, where a credit provider or finance broker has engaged in unjust conduct the Director may, with the approval of the Minister, request an undertaking from that credit provider or finance broker to refrain from unjust conduct or rectify its consequences. The Director can also make an application to the Credit Tribunal in respect of unjust conduct by a credit provider and finance broker and an order can be made by the Tribunal in respect of such conduct. Breach of an undertaking or order of the Tribunal attracts a substantial penalty.
The powers and functions of the Director of Consumer Affairs under the Credit Act 1985 have been retained under the Bill. These include the power
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