Action Taken On Mandatory Centrelink Phone Number
Feb 25 2016
Follow Up Action Taken on Centrelink Phone Number Still Not Working
In a Member update on 17th December 2015, Members were made aware that Centrelink had disconnected their number you are required to display in your SACC Warning Notice. On the same day, NCPA also made ASIC aware that Centrelink had disconnected this number and reminded ASIC that this is a mandatory requirement on some SACC notices.
Despite drawing ASIC and Treasury’s attention to this issue, neither entity can provide clarity on whether we are required to continue to list a disconnected number or whether we can simply remove this reference from the mandatory forms and notices until the issue is formally resolved.
To that end and to bring clarity to this issue, the NCPA has formally sent a request to ASIC to issue a Class Order that either:
- exempts lenders from displaying the number (and includes any subsequent text amendments to related paragraphs); or
- gives authority to display another Centrelink number as listed in the Class Order.
Treasury may have the option to correct this issue as part of any legislative changes that may come out of the SACC review, but the timing of that will now greatly depend on the date of the pending Federal election, which historically has been very disruptive to legislative updates in the credit sector.
Click here if you wish to join NCPA and receive regular Member updates and guidances on important and up to the minute activity in the SACC and MACC industry.