Nick Sherry (Tasmania, Australian Labor Party, Minister Assisting the Minister for Tourism) Share this | Hansard source

I referred earlier in my contribution that the government would not be supporting this regulation. The government has given ASIC the power to prosecute any fee in any credit contract that is unfair or unconscionable to consumers. That is contained in sections 12BF and 12CB of the ASIC Act. As I mentioned earlier, duplication and inconsistent test definitions are inappropriate. We will not be supporting the amendment.