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E-commerce and consumer credit
Ian Clyde
Project Manager, Credit & Finance, Consumer Affairs Victoria
Chair, Uniform Consumer Credit Code Management Committee
Introduction
The Uniform Consumer Credit Code Management Committee (UCCCMC) recognises the
increased interest from credit providers in the use of electronic communications in
connection with consumer credit. UCCCMC is currently working towards a set of modest
amendments to the Uniform Consumer Credit Code (the Code) aimed at implementing the
e-commerce recommendations in the Post Implementation Review (PIR) of the Code.
Since the recommendations were made, there have been significant developments in the e-
commerce legal framework – in particular, the enactment of Federal and State electronic
transactions legislation. There have also been useful soft law developments, such as the
Electronic Funds Transfer Code of Conduct and the best practice guidelines, Building
Consumer Sovereignty in Electronic Commerce: A Best Practice Model for Business. The
UCCCMC has taken these developments into account in considering how best to roll out
the PIR recommendations.
The aim of the PIR e-commerce recommendations is to:
"Recognise electronic transactions by harmonising the Code, as far as possible,
with the Electronic Transactions Bill 1999. In addition, the Code will need to
adopt specific consumer protection measures to respond to issues that arise
specifically out of the consumer credit environment."1
The operation of the electronic transactions legislation (now enacted in each State and
Territory) plays a crucial role in assessing what is needed to facilitate e-commerce in
respect of Code-regulated credit. The provisions of the electronic transactions legislation
are in the same terms in each jurisdiction and are based on the Electronic Transactions Act
1999 (Cth). For convenience, I will refer to the Electronic Transactions (Victoria) Act
2000 (ETV Act) as representative of the elect