National Credit Law Agreement

On 7 December 2009, all states and territories signed the National Credit Law Agreement 2009. The National Credit Law Agreement 2009 was made in accordance with the Council of Australian Governments’ agreement in March and June 2008 to transfer responsibility for regulation of consumer credit to the Commonwealth. Underpinned by the National Credit Law Agreement, the Commonwealth Government implemented a national, uniform approach to consumer credit laws with a national licensing scheme – the National Consumer Credit Protection Act 2009. The National Credit Agreement replaced the Australian Uniform Credit Laws Agreement 1993, which underpinned the State-based Uniform Consumer Credit Code.

On 29 June 2017, technical amendments were made to the National Credit Law Agreement reflecting the establishment of the Legislative and Governance Forum on Corporations by the Corporations Agreement and include reference to the Competition and Consumer Act 2010.