MOTIONS › National Consumer Credit Protection Act 2009
Senator RUSTON (South Australia—Minister for Families and Social Services and Manager of Government Business in the Senate) (16:17): I seek leave to make a short statement. The DEPUTY PRESIDENT: Leave is granted for one minute. Senator RUSTON: The government has not reneged on its acceptance of the recommendation of the royal commission. Recommendation 1 states: The NCCP Act should not be amended to alter the obligation to assess unsuitability. With respect to the recommendation, Commissioner Hayne noted: Consumer advocacy groups urged me to recommend that the NCCP Act be amended to require lenders to determine whether a loan contract (or credit limit increase) was 'suitable' for the consumer (as distinct from 'not unsuitable'). I do not favour that proposal. The DEPUTY PRESIDENT: The question is that general business notice of motion No. 830, standing in the name of Senator McKim, be agreed to.