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October 12, 2006

Credit Code E-commerce amendments commence

The e-commerce provisions of the Consumer Credit and Trade Measurement Amendment Act 2006 and the Consumer Credit Amendment Regulation (No.1) 2006 commenced on 9 October 2006.

The objectives of the Act in relation to ecommerce:
• facilitate the application of the electronic transactions legislation in each State and Territory to the Consumer Credit Code;
• ensure that consumer protection is not diminished as a result of a debtor transacting in an electronic environment.

In particular amendments have been made to provide for a debtor to specifically consent to receive electronic communications and notices.

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Posted 12th October 2006 by David Jacobson in Financial Services