Businesses are people too? Anomalies in widening the ambits of "consumer" under consumer credit law

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Abstract

This article examines the position of the small business as "consumer" under existing consumer protection legislation and the incongruities arising from this characterisation in the area of consumer credit regulation. While the inclusion of small businesses may be defensible under the Australian Consumer Law, it is contended that this is not the case in consumer credit regulation. It is arguable that such an inclusion impacts significantly on commercial dealings and could have a lasting effect on the availability of credit to small businesses. The effects of treating businesses as consumers in relation to consumer credit transactions are far-reaching, potentially affecting the power of the courts to make winding-up orders under the Corporations Act 2001 (Cth) and also countenancing insolvent trading under the hardship provisions.
Original languageEnglish
Pages (from-to)113-123
Number of pages11
JournalAustralian Business Law Review
Volume42
Issue number2
Publication statusPublished - 2014

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Consumer credit
Anomaly
Small business
Inclusion
Legislation
Consumer protection
Credit

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title = "Businesses are people too? Anomalies in widening the ambits of {"}consumer{"} under consumer credit law",
abstract = "This article examines the position of the small business as {"}consumer{"} under existing consumer protection legislation and the incongruities arising from this characterisation in the area of consumer credit regulation. While the inclusion of small businesses may be defensible under the Australian Consumer Law, it is contended that this is not the case in consumer credit regulation. It is arguable that such an inclusion impacts significantly on commercial dealings and could have a lasting effect on the availability of credit to small businesses. The effects of treating businesses as consumers in relation to consumer credit transactions are far-reaching, potentially affecting the power of the courts to make winding-up orders under the Corporations Act 2001 (Cth) and also countenancing insolvent trading under the hardship provisions.",
author = "Francina Cantatore and Brenda Marshall",
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Businesses are people too? Anomalies in widening the ambits of "consumer" under consumer credit law. / Cantatore, Francina; Marshall, Brenda.

In: Australian Business Law Review, Vol. 42, No. 2, 2014, p. 113-123.

Research output: Contribution to journalArticleResearchpeer-review

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AB - This article examines the position of the small business as "consumer" under existing consumer protection legislation and the incongruities arising from this characterisation in the area of consumer credit regulation. While the inclusion of small businesses may be defensible under the Australian Consumer Law, it is contended that this is not the case in consumer credit regulation. It is arguable that such an inclusion impacts significantly on commercial dealings and could have a lasting effect on the availability of credit to small businesses. The effects of treating businesses as consumers in relation to consumer credit transactions are far-reaching, potentially affecting the power of the courts to make winding-up orders under the Corporations Act 2001 (Cth) and also countenancing insolvent trading under the hardship provisions.

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