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Version date: 19 October 2011 - onwards
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Chapter 8 Arrears handling (effective from 1 January 2012)

Clarification of scope

a) The provisions in this Chapter only apply in respect of loans (including credit cards) held by a personal consumer.

b) The provisions in this Chapter do not apply to the extent that the loan is a mortgage loan to which the Code of Conduct for Mortgage Arrears applies.

General

8.1 A regulated entity must have in place written procedures for the handling of arrears.

8.2 A regulated entity must make the following information available for personal consumers, including on a dedicated section of any website it operates:

a) general information to encourage a personal consumer to deal with arrears and stating the benefits of dealing with arrears;

b) relevant contact details of the regulated entity for dealing with arrears;

c) details on the charges that may be imposed on personal consumers in arrears; and

d) a link to the Money Advice and Budgeting Service (MABS) website.

The information on the website must be easily accessible from a prominent link on the homepag

Comparing proposed amendment...