26. August 2010 08:46
ASIC has released a new class order, in order to correct some drafting anomalies in the National Consumer Credit Protection Regulations 2010 in relation to the streamlined application process for obtaining an Australian credit licence.
All of the provisions, except para 4(b)(i), commenced on 1 July 2010. The remaining paragraph commenced on 24 August 2010, the date of registration on FRLI.
For up-to-date commentary regarding the sweeping changes to the consumer credit regime, subscribers are referred to Australian Consumer Credit Law.