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This is a Bill, not an Act. For current law, see the Acts databases.
TASMANIA
__________
CONSUMER CREDIT (LIMITATION ON
ADVERTISING) BILL 2008
__________
CONTENTS
1. Short title
2. Commencement
3. Interpretation
4. Application of Act
5. Restriction on advertisements
6. Format and content of advertisements
7. Relationship with the Code
8. Exemptions
9. Regulations
10. Administration of Act
11. Expiry of Act
12. Transitional provisions
13. Consequential amendments
14. Expiry of amendments
Schedule 1 - Consequential Amendments
[Bill 64]-VII
2
CONSUMER CREDIT (LIMITATION ON
ADVERTISING) BILL 2008
(Brought in by the Minister for Corrections and Consumer
Protection, the Honourable David Edward Llewellyn)
A BILL FOR
An Act to limit advertising by high-cost credit providers
and for related purposes
Be it enacted by His Excellency the Governor of Tasmania, by
and with the advice and consent of the Legislative Council and
House of Assembly, in Parliament assembled, as follows:
1. Short title
This Act may be cited as the Consumer Credit
(Limitation on Advertising) Act 2008.
2. Commencement
This Act commences on a day to be proclaimed.
3. Interpretation
(1) In this Act -
"broadcast", in relation to an advertisement,
means broadcast the advertisement by
wireless transmission or television or
cause it to be so broadcast;
[Bill 64] 3
Consumer Credit (Limitation on Advertising) Act 2008
Act No. of
s. 3
"Code" means the Consumer Credit
(Tasmania) Code;
"comparison rate", in relation to a consumer
credit product, means the comparison
rate for that product calculated in
accordance with the regulations;
"consumer credit product" means any form
of facility for the provision of credit
(other than under a continuing credit
contract) provided to debtors by a credit
provider;
"credit advertisement" means an
advertisement that states or implies that
credit is available;
"high-cost credit provider" means a credit
provider that offers a consumer credit
product with a comparison rate greater
than 40%;
"publish", in relation to an advertisement,
means to -
(a) insert the advertisement in a
newspaper or periodical or cause
it to be so inserted; or
(b) include the advertisement on an
internet site; or
(c) publicly exhibit the advertisement
or cause it to be publicly
exhibited;
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Consumer Credit (Limitation on Advertising) Act 2008
Act No. of
s. 4
"regulations" means the regulations made
and in force under this Act.
(2) Unless the contrary intention appears,
expressions used in this Act have the same
meaning as they have in the Code.
4. Application of Act
This Act applies to the provision of credit to
which the Code applies.
5. Restriction on advertisements
A high-cost credit provider must not publish or
broadcast a credit advertisement unless that
advertisement complies with section 6.
Penalty: In the case of -
(a) a first offence, a fine not
exceeding 100 penalty units; or
(b) a subsequent offence, a fine
not exceeding 300 penalty
units.
6. Format and content of advertisements
(1) A credit advertisement must not contain
anything other than the following:
(a) the name of the credit provider;
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Consumer Credit (Limitation on Advertising) Act 2008
Act No. of
s. 7
(b) the business address of the credit
provider;
(c) the wording "short-term finance is
available";
(d) the telephone number of the credit
provider.
(2) The printing or typewriting in a credit
advertisement must be the same point size, other
than the name of the credit provider.
7. Relationship with the Code
The provisions of this Act are in addition to, and
not in derogation of, the provisions of the Code.
8. Exemptions
(1) The Minister may, by order published in the
Gazette, exempt a person or class of persons
from the operation of this Act, or a provision of
this Act.
(2) An order under this section is not a statutory rule
within the meaning of the Rules Publication Act
1953.
(3) An exemption under subsection (1) may be
unconditional or subject to conditions.
(4) A person must not contravene a condition of an
exemption.
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Consumer Credit (Limitation on Advertising) Act 2008
Act No. of
s. 9
Penalty: Fine not exceeding 100 penalty units.
9. Regulations
(1) The Governor may make regulations for the
purposes of this Act.
(2) Regulations made under this Act may -
(a) authorise any matter to be determined,
applied or regulated by a person or body
specified in the regulations; and
(b) be made subject to conditions or so as to
apply differently according to such
factors as are specified in the regulations;
and
(c) confer a power and impose a duty on a
specified person or class of persons.
10. Administration of Act
Until provision is made in relation to this Act by
order under section 4 of the Administrative
Arrangements Act 1990 -
(a) the administration of this Act is assigned
to the Minister for Corrections and
Consumer Protection; and
(b) the department responsible to that
Minister in relation to the administration
of this Act is the Department of Justice.
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Consumer Credit (Limitation on Advertising) Act 2008
Act No. of
s. 11
11. Expiry of Act
This Act expires -
(a) 2 years after the day on which it
commences, inclusive of that day; or
(b) on such earlier date as may be fixed by
proclamation.
12. Transitional provisions
(1) In this section -
"transitional period" means the 3-month
period immediately following the day on
which this Act commences.
(2) This Act does not apply to a credit advertisement
that is published or broadcast during the
transitional period if it is published or broadcast
pursuant to a contract entered into before that
period.
13. Consequential amendments
The legislation specified in Schedule 1 is
amended as specified in that Schedule.
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Consumer Credit (Limitation on Advertising) Act 2008
Act No. of
s. 14
14. Expiry of amendments
The amendment to section 3A of the Consumer
Affairs Act 1988 effected by section 13 of this
Act expires immediately before this Act expires.
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Consumer Credit (Limitation on Advertising) Act 2008
Act No. of
sch. 1
SCHEDULE 1 - CONSEQUENTIAL AMENDMENTS
Section 13
Consumer Affairs Act 1988
1. Section 3A is amended by inserting "the
Consumer Credit (Limitation on Advertising) Act
2008," after "Collections for Charities Act
2001,".
10 Government Printer, Tasmania