impact to earnings, page-23

relaxan,

You raise some good points as does master of sin.

If I may put my political advisor hat on for a moment, it is worth remembering that this is not legislation that has been passed or even introduced. It is draft legislation about which the Government is seeking comment. CCV will be participating in this consultation and when legislation is eventually brought forward, it may be different to what has been described so far.

This is not to say that the draft legislation is not a matter for concern to CCV shareholders, but I suspect there was always the likelihood of legislation impacting the payday loan business.

Additionally, it is worth remembering that in the current political climate where the Government does not control either chamber of Parliament, the passage of any legislation is not guaranteed. If CCV and others are able to make a compelling case to the opposition there may have to be changes made to the draft legislation if it is going to pass.

If anyone is interested, the Shadow Assistant Treasurer is Senator Mathias Cormann from WA. http://www.mathiascormann.com.au

Hell, if the Member for Dobell decides to retire and spend more time with his hookers the Government could fall and the legislation could be shelved entirely as the country goes to an election.

You are right to point out that this isn't the first time this has been proposed. I expect some kind of legislation will be passed, but I don't believe it is a major priority for the Government.