Document ID: chunk:federal_register_of_legislation:F2016L00319:body:0
Version: federal_register_of_legislation:F2016L00319
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ASIC Credit (Updated details for prescribed disclosure) Instrument 2016/200
I, Stephen Yen PSM, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Dated 11 March 2016

Stephen Yen

Contents

Part 1—Preliminary
1 Name of legislative instrument
2 Commencement
3 Authority
4 Definitions
Part 2—Declaration
5 Update to information in reverse mortgage information statements and warnings in relation to small amount credit contracts

Part 1—Preliminary

1 Name of legislative instrument
This instrument is the ASIC Credit (Updated details for prescribed disclosure) Instrument 2016/200.

2 Commencement
This instrument commences on the day after it is registered on the Federal Register of Legislation.
Note: The register may be accessed at www.legislation.gov.au.

3 Authority
This instrument is made under paragraph 163(3)(d) of the National Consumer Credit Protection Act 2009.

4 Definitions
In this instrument:
Act means the National Consumer Credit Protection Act 2009.
Regulations means the National Consumer Credit Protection Regulations 2010.

Part 2—Declaration

5 Update to information in reverse mortgage information statements and warnings in relation to small amount credit contracts
  The provisions to which Part 3-7 of the Act applies apply in relation to a licensee as if the Regulations were modified or varied as follows:
(a) in Schedule 5A under the heading "SOURCES OF OTHER INFORMATION", omit the last paragraph, including Note 3;
(b) in Schedule 7 (last dot point), omit "13 17 94", substitute "www.humanservices.gov.au/advancepayments";
(c) in Schedule 9 (last dot point), omit "13 17 94", substitute "www.humanservices.gov.au/advancepayments".