These regulations, which come into force on 30 September 2021, defer, for 2 months, the commencement of the provisions of the Credit Contracts and Consumer Finance Amendment Regulations 2020 that are due to come into force on 1 October 2021. This follows the making of the Credit Contracts Legislation Amendment Act Commencement Amendment Order 2021, which defers, for 2 months, the commencement of most of the provisions of the Credit Contracts Legislation Amendment Act 2019 that were due to come into force on 1 October 2021.

The deferred provisions have 5 main effects, relating to the following:

• responsibility to ensure advertising complies with advertising standards:

• variation disclosure if the parties to the contract agree to change the contract and disclosure relating to the rate of charge under a high-cost consumer credit contract:

• disclosure under section 26B of the Credit Contracts and Consumer Finance Act 2003, which requires disclosure about dispute resolution schemes and financial mentoring services in certain circumstances relating to hardship applications, arrears, when credit is declined, and complaints:

• securitisation or covered bond arrangements or similar arrangements:

• disclosure before debt collection starts.