Proclamation under the Consumer Credit (Tasmania) Act 1996

Proclamation under the Consumer Credit (Tasmania) Act 1996

I, the Governor in and over the State of Tasmania and its Dependencies in the Commonwealth of Australia, acting with the advice of the Executive Council, by this my proclamation made under section 6(2) of the Consumer Credit (Tasmania) Act 1996 declare that –

(a) the Consumer Credit (Tasmania) Regulations are amended as provided by Schedule 1 to this proclamation; and

(b) this proclamation takes effect on the day on which its making is notified in the Gazette.

13 December 1999

G. S. M. GREEN

Governor

By His Excellency's Command,

P. PATMORE

Minister for Justice and Industrial Relations

SCHEDULE 1 - Amendments to Consumer Credit (Tasmania) Regulations

1.   Object

The object of this Schedule is to amend the Consumer Credit (Tasmania) Regulations in conformity with the Consumer Credit (Queensland) Amendment Regulation (No. 2) 1999 .

2.   Interpretation

In this Schedule, the Consumer Credit (Tasmania) Regulations means the provisions applying under section 6 of the Consumer Credit (Tasmania) Act 1996 .

3.   Insertion of new s 6D

After section 6C, insert –

6D.   Student loans - exemption from certain provisions of the Code

(1) The Code, other than sections 56(1) and 70 to 74, does not apply to the provision of credit by a higher educational institution, or by an association of students of the institution, to a student of the institution on the grounds of hardship or of an emergency.

(2) However, subsection (1) only applies if the institution or association gives the debtor or any guarantor the following things before the contract for the provision of credit is entered into by the debtor or the guarantee is signed by the guarantor –

(a) a statement of the costs of the provision of credit, which must include any fees or charges payable and the interest rate applicable and may include other information; and

(b) a copy of the terms and conditions of the contract for the provision of credit.

(3) In this section –

association of students , of a higher educational institution, means a union, guild or other association of students –

(a) of the institution; or

(b) of the institution and of other higher educational institutions;

higher educational institution means an institution within the meaning of the Higher Education Funding Act 1988 (Cwlth), section 4.

Displayed and numbered in accordance with the Rules Publication Act 1953.

Notified in the Gazette on 22 December 1999

This proclamation is administered in the Department of Justice and Industrial Relations.

EXPLANATORY NOTE

(This note is not part of the proclamation)

This proclamation amends the Consumer Credit (Tasmania) Regulations in conformity with the Consumer Credit (Queensland) Amendment Regulation (No. 2) 1999 .