Document ID: chunk:federal_register_of_legislation:F2024C00882:clause:2_45:p2
Version: federal_register_of_legislation:F2024C00882
Segment Type: clause
Provision Reference: sch 2 cl 45 (pt 2/8)
Character Range: 487088–490015

adequate resources (including financial, technological and human resources) available so it can engage in credit activities in relation to the carried over instrument and to carry out supervisory arrangements; and
 (ii) have adequate risk management systems.
 (1A) For the purposes of subparagraph (1)(f)(i), the information is:
 (a) the name of the person making the complaint; and
 (b) the date the complaint was made; and
 (c) details of the substance of the complaint; and
 (d) details of the outcome of the compliant.
 (1B) For the purposes of subparagraph (1)(f)(ii), the information is:
 (a) the name of the person making the application; and
 (b) the date the application was made; and
 (c) details of the information included in the application; and
 (d) details of the written notice given under subsection 72(3) of the National Credit Code.
 (1C) For the purposes of subparagraph (1)(f)(iii), the information is:
 (a) the name of the person making the request; and
 (b) the date the request was made; and
 (c) details of the information included in the request; and
 (d) details of the written notice given under subsection 94(2) of the National Credit Code.

2.18  Subsection 47(2)
omit
For the purposes of paragraphs (1)(b), (g), (k) and (l),
insert
For the purposes of paragraphs (1)(b), (c), (g) and (h),

2.18A  Subsection 47(2)
omit
licensee
insert
unlicensed carried over instrument lender

2.19  Subsection 47(3), including subsection heading
omit

2.20  Section 48
substitute

       48  Standards or requirements for internal dispute resolution approved or made by ASIC
 (1) ASIC must take the following matters into account when considering whether to approve standards or requirements for internal dispute resolution for an unlicensed carried over instrument lender:
 (a) Australian/New Zealand Standard AS/NZS 10002:2014 Guidelines for complaint management in organizations published jointly by, or on behalf of, Standards Australia and Standards New Zealand, as in force or existing on 29 October 2014;
 (b) any other matters ASIC considers relevant.
 (2) ASIC may vary or revoke:
 (a) a standard or requirement that it has made in relation to an internal dispute resolution procedure; and
 (b) the operation of a standard or requirement that it has approved in its application to an internal dispute resolution procedure.

2.21  Section 49, heading
substitute

       49  Obligation to provide a statement or audit report

2.22  Subsections 49(1) to (3)
omit each mention of
licensee
insert
unlicensed carried over instrument lender

2.23  After subsection 49(3)
insert

Requirement to lodge audit report
 (3A) An unlicensed carried over instrument lender who is not a member of the AFCA scheme must lodge with ASIC an audit report, prepared by a suitably qualified person and in accordance with subsection (10), about whether the lender has complied with the following requirements in relation to a