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Specifically, the Act: ? introduces a comprehensive national licensing regime requiring persons engaged in credit activities to hold an Australian Credit Licence (ACL) or be an authorised credit representative ? imposes ‘responsible lending’ conduct obligations on licensees (from 1 July for everyone except ADIs and 1 January 2011 for ADIs) ? prescribes a framework for dispute resolution and civil remedies, including requiring credit providers to be members of an external dispute resolution scheme ? increases sanctions and enhances the enforcement powers of ASIC ? prescribes a new National Credit Code (NCC), which largely replicates the Uniform Consumer Credit Code (UCCC), but also governs contracts under which credit is provided to purchase or improve residential investment property. W