Financial Sector Reform Act 2022 (87 of 2022)

Schedule 4   Consumer credit reforms

Part 4   Avoidance

National Consumer Credit Protection Act 2009

60   Subsection 5(1)

Insert:

avoidance purpose : see subsection 323A(2).

constitutional corporation means a corporation to which paragraph 51(xx) of the Constitution applies.

constitutional trade and commerce means trade and commerce:

(a) between Australia and places outside Australia; or

(b) between the States; or

(c) between a State and a Territory; or

(d) between 2 Territories; or

(e) within a Territory.

scheme means:

(a) any agreement, arrangement, understanding, promise or undertaking, whether express or implied; or

(b) any scheme, plan, proposal, action, course of action or course of conduct, whether unilateral or otherwise; or

(c) any combination of 2 or more things that are schemes because of paragraph (a) or (b).