Document ID: chunk:federal_register_of_legislation:F2024L00133:reg:29
Version: federal_register_of_legislation:F2024L00133
Segment Type: reg
Provision Reference: reg 29
Character Range: 38995–40924

29  Requirements to keep records

       (1) A provider must keep records of its financial hardship arrangements with customers, including:

           (a) the name and contact details of the customer who the arrangement is with;

           (b) a unique reference number or some other unique identifier that will ensure the provider can subsequently identify the arrangement and its subject matter; and

           (c)  records of the dates of any oral communications with the customer; and

           (d) the following information:

              (i)            copies of any correspondence sent by or to the customer regarding the arrangement;

              (ii)         a copy of their application;

              (iii)       a copy of any request made to a customer under subsection 16(3);

              (iv)        a record of the customer's acceptance of the arrangement as referred to in section 19; and

              (v)          the notice given to the customer under section 20.

       (2) A provider must keep records:

           (a) of credit management action it takes against a customer in accordance with subsection 24(2), and the associated communication made to the customer referred to in subsection 24(4) and notice given to the customer under paragraph 24(5)(b);

           (b) that are sufficient to demonstrate its compliance with the requirements under Parts 2 to 5; and

           (c) of the training it provides to its personnel under section 27.

       (3)  Where a provider keeps records under this section it must take such steps as are reasonable in the circumstances:

           (a)  to protect the information from misuse, interference and loss, unauthorised access, modification or disclosure; and

           (b) to ensure the information is disposed of, or destroyed, in a secure manner where the record is no longer needed under this industry standard or any other applicable laws.