Document ID: chunk:federal_register_of_legislation:C2024A00138:clause:2_133bxg
Version: federal_register_of_legislation:C2024A00138
Segment Type: clause
Provision Reference: sch 2 cl 133BXG
Character Range: 65675–66512

133BXG  Licensee must have an unsuitability assessment policy
 (1) A licensee must have a written policy (an unsuitability assessment policy) that sets out how the licensee will comply with sections 128 and 131 (which deal with assessments of unsuitability), as those sections apply in relation to low cost credit contracts.

Unsuitability assessment policy must be effective
 (2) The licensee must ensure that the licensee's unsuitability assessment policy is one that, if followed, makes it likely that the licensee will comply with sections 128 and 131, as those sections apply in relation to low cost credit contracts.

Regulations may prescribe further requirements
 (3) The licensee must comply with any requirements relating to unsuitability assessment policies prescribed by the regulations for the purposes of this subsection.