Corporations Point-in-Time Service Updates

The Corporations Service has been updated to include the Treasury Laws Amendment (Miscellaneous and Technical Amendments) Regulations 2025 (Cth) and the National Consumer Credit Protection Amendment (Low Cost Credit) Regulations 2025 (Cth).

Treasury Laws Amendment (Miscellaneous and Technical Amendments) Regulations 2025

The purpose of the Regulations is to make miscellaneous and technical amendments to regulations in the Treasury portfolio, including to laws with respect to corporations, credit, superannuation and taxation. The Regulations amend various Treasury portfolio regulations to correct drafting errors and unintended outcomes, repeal inoperative provisions, and make other technical changes.

National Consumer Credit Protection Amendment (Low Cost Credit) Regulations 2025

The Regulations aim to support the new regulatory framework for low cost credit contracts (LCCCs) that is established by the Treasury Laws Amendment (Responsible Buy Now Pay Later and Other Measures) Act 2024 (Cth). The Regulations support this framework by prescribing:

• inquiries that must be made about a consumer's financial situation;
• requirements for a LCCC licensee's unsuitability assessment policy, including the content of the policy and conducting reviews of and updating the policy;
• the maximum level of fees or charges (fee caps) a LCCC licensee can charge on a consumer in a 12-month period for the credit contract to be considered a LCCC;
• the information that must be included in a first default in payment notice for LCCCs; and
• medical financing at no cost to the consumer is not a BNPL (Buy Now Pay Later) arrangement.

These amendments have been updated in the Point-in-Time Corporations Service current to 10 March 2025. (NB: subscription required).

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