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2 December 2011
© Commonwealth of Australia 2011 ISBN 978-1-74229-542-8
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Referral of the Consumer Credit and Corporations Legislation Amendment (Enhancements) Bill 2011 Conduct of inquiry Acknowledgements Notes on references Background Purpose of the Bill Timing of introduction of the phase two measures Report structure
Support for the new approach to hardship variations and enforcement of credit contracts Concerns with draft provisions relating to hardship variations Concerns with provisions relating to enforcement of credit contracts
In-principle support for the proposed regulation of reverse mortgages Concerns raised with technical aspects of provisions
Support for the proposed regulation of consumer mortgages Concerns with the proposal to align consumer lease and credit contract regulations
Overview of the proposed reforms Features of the short-term loan industry Consumer profile – financial circumstances of short-term loan borrowers The case for the short-term loan reforms Industry concerns with the short-term loan provisions Other sources of short-term credit contracts
Restrictions on certain representations and advertisements Restrictions on the use of certain terms including 'independent' and 'financial counsellor' Remedies for unfair or dishonest conduct Amendment to section 250R of the Corporations Act 2001
Concerns with the proposal
Committee Secretary Parliamentary Joint Committee on Corporations and Financial Services PO Box 6100 Parliament House Canberra ACT 2600 Australia Phone: +61 2 6277 3583 Fax: +61 2 6277 5719 Email: corporations.joint@aph.gov.au
Committee Secretary Parliamentary Joint Committee on Corporations and Financial Services PO Box 6100 Parliament House Canberra ACT 2600 Australia
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