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Uniform Consumer Credit prior to April 2010: Comparison with NCCP

Posted by on in Consumer Protection Disaster
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I had been trying to find a copy of the Uniform Consumer Credit Code (UCCC) which was the Credit Code (Legislation) in effect before the current National Consumer Credit Protection Act (2009) (NCCP) I couldn't find it anywhere on comlaw or AUSTLii under repealed Commonwealth Legislation and was starting to think 'This legislation is an enigma!'.

FYI - Any 'loans' / credit applied for before April 2010 was under the UCCC.

Upon Denise's suggestion (thank you for that) I contacted the Consumer Credit Legal Service (CCLWA) and was advised by CCLWA that the UCCC federal legislation was based up on the Queensland Consumer Credit Code - Appendix to the Consumer Credit (Queensland) Act 1994 - now repealed. No wonder I couldn't find it!!

The UCCC is the legislation under which the states and territories previously regulated consumer credit. From 1 July 2010, the UCCC was replaced by the National Credit Code which is contained in the National Consumer Credit Protection Act

I have FINALLY managed to find a copy of the UCCC, which can be found here: http://www.legislation.qld.gov.au/LEGISLTN/REPEALED/C/ConsumCredCode_04B_090622.pdf

I have also found a Comparison table between the Uniform Consumer Credit Code (UCCC) and the National Consumer Credit Protection Act (NCCP), which can be found here: http://archive.treasury.gov.au/consumercredit/content/downloads/comparison_table.pdf

The NCCP is based upon the UCCC, so the comparison table is a good reference as it shows you where relevant sections of the UCCC have been placed within the new legislation.

Hope this information is helpful to others.

 

 

 

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  • doyla66
    doyla66 Wednesday, 24 October 2012

    Thank you heaps for posting those links.

  • doyla66
    doyla66 Wednesday, 24 October 2012

    CONSUMER CREDIT (QUEENSLAND) ACT 1994 Act No. 51 of 1994:

    Relevant NCCP(sec77)mirrors former UCCC(Qld)1994 sec.70(2)(l)--whether at the time the contract, mortgage or guarantee was entered into or changed, the credit provider knew, or could have ascertained by reasonable inquiry of the debtor at the time, that the debtor could not pay in accordance with its terms or not without substantial hardship;

    Orders on reopening of transactions

    sec.71. The Court may, if it reopens a transaction under this Division, do any one or more of the following, despite any settlement of accounts or any agreement purporting to close previous dealings and create a new obligation—

    (a) reopen an account already taken between the parties;

    (b) relieve the debtor and any guarantor from payment of any amount in excess of such amount as the Court, having regard to the risk involved and all other circumstances, considers to be reasonably payable;

    (c) set aside either wholly or in part or revise or alter an agreement made or mortgage given in connection with the transaction;

    (d) order that the mortgagee takes such steps as are necessary to discharge the mortgage;

  • doyla66
    doyla66 Wednesday, 24 October 2012

    Thanks Portabello this is so useful.

  • doyla66
    doyla66 Wednesday, 24 October 2012

    May I strongly urge any of you that have loans taken out prior to 2009, to download a copy of the UCCC and related comparison table that Portabello has provided. For whatever reason, this legislation has been buried unusually deep by the powers that be and has not been easy to source. Usually, legislation can be found on Comlaw and Austlii pretty easily. Using the Advanced Search feature, even repealed legislation is available and easy to acess. Not the UCCC though. I had a right bugger of a time trying to find it a few months ago because they don't refer to it as the 'UCCC' in any of the legal databases, it is simply a term used to describe the QLD Credit Act and Code that was seemingly later adapted by all states and then refered to as the UCCC - even though it appears there was never any such thing.

  • Denise
    Denise Thursday, 25 October 2012

    Very well researched Portabello. We have some powerful minds in our group. Thank you and will compare in earnest [email protected]

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