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) is an intergovernmental body based in Kingston, Jamaica, that was established to organize, regulate and control all mineral-related activities in the international seabed area beyond the limits of national jurisdiction, an area underlying most of the world’s oceans.
2009 (Cth) (National Credit Act) provides that where a person offers goods by instalment and the amount payable by instalments exceeds the cash price of goods, the person may be engaging in credit activities.
The Consumer Credit Protection Act was the first general federal Consumer Protection legislation. Many states, however, continue to enact legislation that would provide consumer debtors similar protections contained in the provisions of the UCCC.
) is federal statute designed to protect borrowers of money by mandating complete disclosure of the terms and conditions of finance charges in transactions; by limiting the Garnishment of wages; and by regulating the use of charge accounts. As of 2003, the UCCC had been adopted in only seven states and Guam.
The purpose of the UCCC is threefold: to protect consumers obtaining credit to finance transactions; to ensure that adequate credit is provided; and to generally govern the credit industry.
Title VI of the Consumer Credit Protection Act, known as the Fair Credit Reporting Act (15 U. For example, the Uniform Consumer Credit Code (UCCC) is an initiative that was drafted by the National Conference of Commissioners on Uniform State Laws in 1968 to help provide consistency among the variety of consumer credit laws that exist throughout state jurisdictions.
), requires that the terms in Consumer Credit transactions be fully explained to the prospective debtors. Whereas the Consumer Credit Protection Act is federal law, states have also passed many statutes regulating consumer credit.
Its purpose is to ensure that consumer reporting activities are conducted in a manner that is fair and equitable to the affected consumer.
), applies to businesses that regularly obtain consumer credit information for other businesses.
The Authority holds one annual session, usually of two weeks' duration.