✦ Plain-English Summary

National Consumer Credit Protection (Fees) Amendment (Registries Modernisation) 2019

What it does

This bill updates the fees system for consumer credit registries by shifting some responsibilities from ASIC (the financial regulator) to a new role called "the Registrar." It basically allows the government to charge fees for services like adding information to these registries, searching them, and producing records when required by courts.

Why it matters

If you've taken out a personal loan or car finance, your details are on a national registry. This change modernises how that registry operates and gets paid for, potentially making the system more efficient—though it might also mean new or different fees for lenders (which could eventually affect you).

Key details

• Who's affected: Lenders, credit providers, and anyone involved in the consumer credit system; potentially borrowers indirectly through loan costs

• What services now have fees: Adding information to the registry, searching it, and providing records to courts (subpoenas)—these activities can now be charged to the Registrar's account, not just ASIC's

• Timing: The changes take effect on a date the government will set later, but no later than 24 months after the bill becomes law

Official Description

Introduced with the Commonwealth Registers Bill 2019, Treasury Laws Amendment (Registries Modernisation and Other Measures) Bill 2019, Business Names Registration (Fees) Amendment (Registries Modernisation) Bill 2019 and Corporations (Fees) Amendment (Registries Modernisation) Bill 2019 to create a new Commonwealth business registry regime, the bill amends the National Consumer Credit Protection (Fees) Act 2009 to allow the registrar to collect fees related to the performance of registry functions or the exercise of a registry power.

Committee Referrals

Parliamentary Joint Committee on Human Rights

No formal division recorded

This bill passed by voice vote — parliament agreed without calling a formal count. A division is only recorded when a member explicitly requests one.

No votes yet.

No votes were recorded for this bill.