ASIC today released a consultation paper (CP 331) proposing to remake two class orders that are due to expire (‘sunset’) on 1 October 2020 and 1 April 2021.
The class orders proposed to be remade are:
Class Order [CO 10/381] Notice lodgment requirements for certain persons who are credit providers or lessors in relation to a carried over instrument; and
Class Order [CO 10/1230] Clarification of credit disclosure obligations – including commencement.
ASIC proposes to preserve the effect of these class orders because it has reached the preliminary view that they continue to form a useful part of the legislative framework. No substantive changes are proposed.
Consultation Paper 331 Remaking ASIC class orders on unlicensed carried over instrument lenders: [CO 10/381] and clarifying credit disclosure obligations: [CO 10/1230] (CP 331) outlines the background to the class orders that we propose to remake and our rationale for remaking them.
