The Uniform Consumer Credit Code Management Committee reports that the Ministerial Council of Consumer Affairs has agreed to extend the sunset date for comparison rates for a year until June 2007. An extension of a year was agreed to accommodate the possibility that the Queensland Government may call an election in the interim.
A draft of the amendment to the Code has been formulated and will be introduced in the early part of 2006.
Consultation on the Preliminary Impact Statement has now closed however a copy of the paper is still available. Hawkless Consulting will consider the submissions which will inform the drafting of the Final Decision Making Preliminary Impact Statement to be provided to MCCA for consideration and decision.
