Document ID: chunk:federal_register_of_legislation:F2024L00133:reg:20
Version: federal_register_of_legislation:F2024L00133
Segment Type: reg
Provision Reference: reg 20
Character Range: 31133–32268

20  Minimum requirements – communicating arrangements

    Information and advice to customers about arrangements for financial hardship assistance

    Where a customer has agreed to an arrangement for financial hardship assistance with a provider, the provider must give the customer a notice in writing:

       (a) setting out the details of the customer's arrangement for financial hardship assistance;

       (b)  setting out the customer's rights and obligations under the arrangement for financial hardship assistance;

       (c)  stating that the customer must advise the provider if their situation changes during the term of the arrangement for financial hardship assistance within 14 days of the change in their situation;

       (d) identifying the circumstances in which credit management action may be undertaken;

       (e) stating the duration of the customer's arrangement for financial hardship assistance; and

       (f) advising the customer that they may seek a review if their financial hardship situation changes,

    within 2 business days after the customer and the provider agreed to the arrangement.