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