In response to a request by the Minister to provide a proposal for an effective and workable regulatory regime for Queensland microlenders.
As the Minister will recall, this proposal is presented in accordance with the Minister’s request, during the ministerial meeting with a delegation from the National Council of the National Financial Services Federation (NFSF) on Thursday October 18th, 2007.
The proposal is designed to present an appropriate structure of regulation, which will balance consumer protection with the continuation of a viable and legitimate Queensland microlending industry.
It is hoped that the Minister and his Cabinet colleagues will have the opportunity to closely examine the contents of this proposal and that there will be an opportunity for the ALP Parliamentary Caucus to consider it, as part of its forthcoming deliberations on the regulation of microlending in Queensland.
