Consumer Credit Act 2025 · Updated to 31 Dec 2025 · Part IV · Advisory Committee
38. Functions of Advisory Committee
Feedback & supportThe Advisory Committee shall have the following functions:
Advisory Committee
“Advisory Committee” means the Advisory Committee established under section 36;
to coordinate the policy and strategy for the protection of credit consumers consistent with this Act;
credit
“credit” means any arrangement, agreement or facility as set out in subsection 5(2);
to promote and monitor the effective regulation of the consumer credit industry and consistent implementation of this Act;
this Act
“this Act” includes any subsidiary legislation, standard or guidelines and notification made under this Act;
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to facilitate cooperation and coordination between members of the Advisory Committee in relation to—
the carrying out of powers of supervision, investigation and enforcement under this Act, including in circumstances where the carrying out of such powers by a Regulatory and Supervisory
Authority may involve matters regulated by another Regulatory and Supervisory Authority;
capacity building of the Regulatory and Supervisory
Authorities;
spurring the reform of the consumer credit regulatory framework;
promoting credit consumer awareness and financial education to encourage a sound credit culture;
and
commissioning or carrying out of general studies or research for the purposes related to this Act;
to deliberate on the implications of any written law, guidelines, or policies proposed by the Commission or such Regulatory and Supervisory Authority; and
Commission
“Commission” means the Consumer Credit Commission established under section 6;
to deliberate on any matter which may be referred to it for the proper and effective implementation of this Act, and for the protection of credit consumers.