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February 19, 2013

Credit regulation of small business deferred

The Commonwealth Government has decided that any reforms to small business finance will be deferred. (Background)

This decision is limited to the small business reforms in Phase 2 of the consumer credit reforms.

The draft Bill's provisions relating to credit provided for investment purposes, private lenders who provide credit contracts or consumer leases through an intermediary, short-term and indefinite term consumer leases and anti-avoidance practices will not be deferred.

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Posted 19th February 2013 by David Jacobson in Financial Services, National Credit Code