Document ID: chunk:federal_register_of_legislation:F2024L00996:schedule:5:p7
Version: federal_register_of_legislation:F2024L00996
Segment Type: schedule
Provision Reference: sch 5 (pt 7/9)
Character Range: 17785–20828

of template reference request
(3) The requesting licensee must request the reference using:
           (a) if any of subparagraphs 5(1)(a)(i) to (iv) or 5(1)(b)(i) to (iv) or subsection 5(4) applies—the template reference request in
           Schedule 3; and
           (b) if either of subparagraphs 5(1)(a)(v) or 5(1)(b)(v) applies—the template reference request in Schedule 4; and
           (c) if subsection 5(5) applies—the template reference request in Schedule 5.
(4) A requesting licensee may make minor amendments to the format of the relevant template reference request when requesting a reference, provided that the request includes all the information that is required by the template reference request.
    Clarification or update requests
(5) A requesting licensee who receives a reference about a prospective representative or relevant mortgage broker may make a clarification or update request within a period of 6 months commencing after the day on which the reference is received.
No limitation
(6) Subject to section 6, nothing in this Protocol limits or prevents a requesting licensee from requesting additional information about a prospective representative or relevant mortgage broker from a referee licensee, provided:
(a)  the additional information requested does not reduce the scope of any of the questions in the applicable template reference request; and
(b) the additional information is not sought by way of a clarification or update request.

8 Referee licensee—obligation to give reference
       (1) A referee licensee that receives:
(a) a request for a reference under subsection 7(3); or
(b) a clarification or update request under subsection 7(5);
        must give the reference, clarification or update to the requesting licensee.
    Requirements for a reference, clarification or update
       (2) The reference, clarification or update: must:
(a) include all information of which the referee licensee is aware and reasonably considers to be relevant to answer the questions in the request; and
(b) be complete, accurate and based on documented facts; and
(c) if a question cannot be answered—include an explanation as to why the question cannot be answered.
           Note: For the avoidance of doubt, a referee licensee that has received information from ASIC under section 916G of the Corporations Act or section 73 of the Credit Act in relation to the prospective representative or the relevant mortgage broker is not required to share this information with another licensee in the performance of their reference checking and information sharing obligations under this Protocol.
       When reference, clarification or update must be given
       (3) The referee licensee must give the reference, clarification or update to the requesting licensee:
(a) within 10 business days beginning on the day after receiving the request; or
(b) within such longer period as agreed between the requesting licensee and the referee licensee, provided the period is no longer than 30 business days beginning on