Property group penalised $60,000 by AER for alleged unauthorised sale of energy

AU Energy Compliance
Photo by Jordan Andrews on Unsplash By Anne Wardell, Compliance Quarter.  Property group penalised $60,000 by AER for alleged unauthorised sale of energy The Taplin Property Group (Taplin) based in South Australia, has been penalised $60,000 by the Australian Energy Regulator for unlawfully selling energy at three Adelaide shopping centres. Taplin did not hold either a license to sell energy as an authorised retailer nor an exemption. This is a breach of s 88 of the National Energy Retail Law and this was the breach set out in the Infringement Notices for the alleged unauthorised sale of energy. AER Chair Paula Conboy noted that the AER works to ensure that all energy customers are afforded the protections available to them under the National Energy Law. She said: '“Exemptions provide customers with important protections. This includes…
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Restrictions on payday loans and rent-to-buy schemes? New private members Bill

Restrictions on payday loans and rent-to-buy schemes? New private members Bill

Financial Services
Restrictions on payday loans and rent-to-buy schemes? On the 26 February, legislation was introduced to the Commonwealth House of Representatives with the aim of amending the National Consumer Credit Protection Act 2009; the National Consumer Credit Protection Amendment (Small Amount Credit Contract and Consumer Lease Reforms) Bill 2018 (henceforth, ‘the Bill’). Photo by Olu Eletu on Unsplash The stated goal of the Bill is to help “Australians get a better deal from Small Amount Credit Contracts (commonly known as payday loans) and consumer leases (known as rent-to-buy schemes)”.[1] Today we summarise the provisions contained in the Bill. Background In light of growing concern with exploitative lending practices, and recommendations from the Independent Review of the Small Amount Credit Contract (SACC) Laws (2015), the Commonwealth Government committed to passing legislative reform of payday loans…
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