OzCar

OzCar was a special purpose vehicle (or trust) established by the Australian government to provide financing for car loans after GE Money Motor Solutions and GMAC abandoned the Australian market during a financial crisis.^[1] Its establishment was announced in a media release on 5 December 2008 and it was legally established as a trust on 2 January 2009,^[1] although it was not activated until 1 September 2009.^[2] Its enabling legislation Car Dealership Financing Guarantee Appropriation Act 2009 received assent on 6 July 2009 and ceased on 4 April 2012 after repeal by the Financial Framework Legislation Amendment Act (No. 1) 2012.^[3]

OzCar became involved in the OzCar affair in Australian politics.

References[]

^ ^a ^b "OzCar Car Dealership Financing Guarantee and Trust Arrangements". Australian government Treasury. 14 May 2009.
^ Wayne Swan (28 August 2009). "Activation of Car Dealership Financing Special Purpose Vehicle ('Ozcar')". Australian government Treasury.
^ "Car Dealership Financing Guarantee Appropriation Act 2009". Australian Government ComLaw.

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[estab-1] "OzCar Car Dealership Financing Guarantee and Trust Arrangements". Australian government Treasury. 14 May 2009.

[2] Wayne Swan (28 August 2009). "Activation of Car Dealership Financing Special Purpose Vehicle ('Ozcar')". Australian government Treasury.

[3] "Car Dealership Financing Guarantee Appropriation Act 2009". Australian Government ComLaw.

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