ASIC confirms credit reform timetable changes

ASIC has confirmed that changes or additions to State Code requirements regarding the following will commence on 1 July 2010 (not 1 January 2011):

  • application to credit for residential investment properties;
  • introduction of debit default notices;
  • amendments to business purpose declarations;
  • amendments to default notices; and
  • new notices in response to application for hardship variations and postponements.
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