CP 331 Remaking ASIC class orders on unlicensed COI lenders and credit disclosure obligations
Released 29 July 2020. Comments close 20 August 2020
This consultation paper sets out ASIC’s proposals to remake our class orders on unlicensed carried over instrument (COI) lenders. Under the Legislation Act 2003, these class orders will expire (‘sunset’) if not remade.
We are seeking feedback from the credit industry on our proposals to remake, without significant changes, the following class orders:
- Class Order [CO 10/381] Notice lodgement requirement for certain persons who are credit providers or lessors in relation to a carried over instrument, which is due to expire on 1 October 2020; and
- Class Order [CO 10/1230] Clarification of credit disclosure obligations—including commencement, which is due to expire on 1 April 2021.