Document ID: chunk:federal_register_of_legislation:F2018C00627:body:0:p3
Version: federal_register_of_legislation:F2018C00627
Segment Type: other
Provision Reference: 
Character Range: 5490–7680

would require the person to lodge with ASIC, in the approved form and before 1 November 2018, details of the credit representative's membership of the AFCA scheme.
                (2) A person that relies on subsection (1) must lodge with ASIC, in the approved form and between 1 November 2018 and 30 November 2018, details of the credit representative's membership of the AFCA scheme.
                (3) Nothing in this section affects an obligation to become a member of the AFCA scheme.".

8A Credit representative authorisations—AFCA membership
    The provisions to which Part 2-6 of the NCCP Act applies apply in relation to licensees and credit representatives as if, after section 65, the following section was inserted:
"65A Transitioning to AFCA membership
          (1) This section applies in relation to an authorisation given to a credit representative who:
             (a) as at 21 September 2018—is not a member of the AFCA scheme; and
             (b) between 21 September 2018 to 31 October 2018—is a member of an approved external dispute resolution scheme.
          (2) Paragraphs 64(5)(c) and 65(6)(c) do not apply to the authorisation."

9 Application
(1)  The declaration made by paragraph 8(a) of this instrument applies on and after the day, under item 72 of Schedule 1 to the Treasury Laws Amendment (Putting Consumers First—Establishment of the Australian Financial Complaints Authority) Act 2018, on and after which the amendments made by Part 5 of Schedule 1 to that Act apply.
(2) The declaration made by section 8A of this instrument ceases to have effect on 1 November 2018.

Endnotes

Endnote 1—Instrument history

Instrument number  Date of FRL registration     Date of commencement  Application, saving or transitional provisions
2018/814           20/9/2018 (see F2018L01325)  21/9/2018
2018/836           20/9/2018 (see F2018L01326)  21/9/2018             -

Endnote 2—Amendment history
ad. = added or inserted     am. = amended     LA = Legislation Act 2003    rep. = repealed     rs. = repealed and substituted
Provision affected   How affected
Section 2            rep. s48D LA
Section 8A           ad. 2018/836
Subsection 9(2)      ad. 2018/336