An Act of Parliament which became effective on 1.11.96 which regulates the provision of credit to consumers.â€¢ Consumer Credit
Parliamentary legislation which governs the relationship between borrowers and lenders.
Parliament Act (Nov. 1996) which governs the relationship between borrowers and lenders.
Parliamentary legislation governing the relationship between Lenders and Borrowers
is an Act of Parliament that governs the involvement between borrowers and lenders. Credit providers such as banks, building societies etc, must tell you what your rights and obligations are in any credit arrangement. They are required by law to truthfully disclose all relevant information about your arrangement in a written contract, including interest rates, fees, commissions and other information which in the past was often hidden.
The Consumer Credit Code is a law that protects individuals who are borrowing money predominantly for personal, domestic, or household purposes. The Consumer Credit Code gives borrowers certain rights and requires lenders to give borrowers information about their loan.
A piece of legislation that protects the rights of consumers by imposing standardised rules on financial institutions.
Act in Parliament governing relationship between buyers and sellers
A law governing most consumer lending in Australia to protect the interests of consumers. It requires credit obligations and liabilities to be set out in a user-friendly way.
An Act of Parliament governing the relationship between borrowers and lenders.
Legislation designed to protect the rights of the individual (personal consumer) by ensuring banks and other financial institutions all adhere to the same rules when providing personal, domestic or household credit. It should provide borrowers with complete and honest information. Also known as the Uniform Consumer Credit Code or UCCC.
The Consumer Credit Code is a set of rules that regulate certain types of lending and borrowing transactions in Australia. Lenders such as banks must tell you what your rights and obligations are in any transaction. Credit transactions made for business or investments are not governed by the Consumer Credit Code.