Lodge online

Register for online access

How to lodge

Download paper forms

Search all forms

Search ASIC registers

Within: 

Search financial services/credit licensees and representatives, liquidators, auditors and more

Professional registers

--------------------------------------------------

More information

Lodge online

decrease text size increase text size print page

Credit disclosure: Transitional arrangements



Amendments to the National Consumer Credit Protection Regulations 2010 have introduced a transition period for certain credit disclosure obligations under the National Consumer Credit Protection Act 2009 (National Credit Act).

If you are a credit licensee or credit representative, your obligations to provide a ‘credit guide', a 'credit proposal disclosure document', and/or a 'quote for credit assistance’ to a consumer up to 2 October 2011 do not apply, if certain conditions are met. If these conditions are not met, you may be contravening the National Credit Act.

The obligation to provide 'precontractual disclosure' to a consumer under s16 of the National Credit Code has already commenced and continues to apply.

What are the transitional credit disclosure arrangements?




Document to be provided to a consumer

Obligation starts

Conditions of transition period

Credit guide and credit proposal disclosure document
(see s113, 121, 126, 127, 136, 144, 149, 150, 158 and 160 of the National Credit Act)

2 October 2011

Your obligation to give the credit guide or proposal document up to 2 October 2011 does not apply, if:
  • you have provided a consumer, in writing, contact details to access your External Dispute Resolution Scheme (EDR), or
  • this information was given to the consumer within the previous 90 days.

Quote for providing credit assistance
(see s114 and 137 of the National Credit Act)

2 October 2011

Your obligation to give the quote up to 2 October 2011 does not apply, if:
  • before you provide credit assistance to a consumer you have entered into a written contract with the consumer setting out the maximum amount that the consumer must pay to you for your credit assistance or other services, or
  • you do not intend to, and do not in fact, impose a fee or charge to a consumer for providing credit assistance or other services.



Where can I get more information?



This is Information Sheet 137 (INFO 137). Information sheets provide concise guidance on a specific process or compliance issue or an overview of detailed guidance.




decrease text size increase text size print page