There has been ongoing subscriber interest regarding this new piece of legislation, and we are pleased to advise that this month’s update of 28.1 Principles of Real Property provides thorough coverage of the legislation’s provisions in relation to lending.

The National Consumer Credit Protection Act 2009 (Cth) introduced a national consumer credit code (commenced 1 April 2010) and responsible lending provisions.  The responsible lending provisions, contained in ch 3 commence at latest on 1 January 2011, however for some lenders and brokers, they have already commenced (National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009 (Cth)).