Ann: Profit Guidance, page-65

I looked at what was said about Consumer Leases wherever the word “lease” appeared in that document, and found nothing novel, other than the name of the bill now before Parliament – the National Consumer Credit Protection Amendment (Small Amount Credit Contract and Consumer Lease Reforms) Bill 2017.

TGA substantially supports the Bill, and it is either already in compliance with it, or substantially so. Passing that Bill into law would do no harm to TGA's business.

In respect to Centrepay, TGA never signs lease agreements without customers authorising either a regular Centrepay deduction, or a similar bank deduction. According to that document, TGA's customers are fairly evenly split between the two options, and TGA sees little difference between them. For customers, Centrepay is the lower fees option, which is why it accounts for just above 50% of all lease payments to TGA. Both types of authorisation can be terminated at short notice, and unless a new direct payment option is put in place, TGA must pursue its usual contract-default procedures.

When the collateral damage of attacking all credit providers becomes even more patent than it now already is, the two major parties will lose there enthusiasm for the anti-credit jihad, IMO. However, anti creditor sentiment has been around for hundreds of years, and it will not go away.