NCCP Key Requirements at a glance

The NCCP Act and associated Bills have now been passed by the Senate.  Planning for the commencement of the new regime may now continue with certainty, subject to the content of the Regulations and ASIC regulatory guidance conerning responsible lending, licensing and margin lending etc. 

Below are diagrams* setting out the current framework and key concepts and requirements at a glance.

  1. Timetable - key dates
  2. National Credit Code (NCC) - key changes
  3. Credit Activity - key concepts
  4. Australian Credit Licence (ACL) - key concepts
  5. Licence Obligations - ACL & AFSL - key obligations
  6. Management of Conflicts of Interest - key requirements
  7. NCCP - key documents
  8. Transitional issues - key requirements

*diagrams adopted from the 2009 Annual Lexis Nexis Credit Law Conference.

 

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