(i) in the case of such a sale or supply where the person providing the credit is linked in any way to the person supplying the goods or services: (A) the liability of the person providing credit for any representation, warranty or statement by the person supplying the goods or services; and (B) the liability of the person providing the credit or supplying the goods or services for loss or damage, and matters arising out of any such liability; and (ii) the termination of any transaction in relation to such a sale of goods or supply of services and matters arising out of any such termination; (b) which would allow for the enactment or amendment of the National Credit Law such that the operation of a law of a State of a kind described in clause 5.6 would be excluded or limited. 5.2 (1) The National Credit Law is not intended to exclude the operation of State and Territory legislation that is capable of operating concurrently with it, including: (a) the Fair Trading Acts; and (b) the enactment by and Territory Parliaments of consequential amendments to, or repeal of, State and Territory legislation, or other transitional arrangements, as required to establish and support the National Credit Law. (2) The National Credit Law will include provisions relating to the interaction between the National Credit Law and State and Territory laws (‘the Interaction Provisions’). The Interaction Provisions will, amongst other things, provide for the operation of certain State or Territory legislation to prevail over the National Credit Law where: (a) subordinate legislation made under the National Credit Law provides that the National Credit Law does not apply to certain matters dealt with by prescribed State or Territory legislation; or
(i) in the case of such a sale or supply where the person providing the credit is linked in any way to the person supplying the goods or services: (A) the liability of the person providing credit for any representation, warranty or statement by the person supplying the goods or services; and (B) the liability of the person providing the credit or supplying the goods or services for loss or damage, and matters arising out of any such liability; and (ii) the termination of any transaction in relation to such a sale of goods or supply of services and matters arising out of any such termination; (b) which would allow for the enactment or amendment of the National Credit Law such that the operation of a law of a State of a kind described in clause 5.6 would be excluded or limited. 5.2 (1) The National Credit Law is not intended to exclude the operation of State and Territory legislation that is capable of operating concurrently with it, including: (a) the Fair Trading Acts; and (b) the enactment by and Territory Parliaments of consequential amendments to, or repeal of, State and Territory legislation, or other transitional arrangements, as required to establish and support the National Credit Law. (2) The National Credit Law will include provisions relating to the interaction between the National Credit Law and State and Territory laws (‘the Interaction Provisions’). The Interaction Provisions will, amongst other things, provide for the operation of certain State or Territory legislation to prevail over the National Credit Law where: (a) subordinate legislation made under the National Credit Law provides that the National Credit Law does not apply to certain matters dealt with by prescribed State or Territory legislation; or
Revised-National-Credit-Law-Agreement.docx