Submission To ASIC On Potential Changes To Electronic Transactions Regulations

Mar 11 2016

 CEO Submits Response To ASIC On Potential Changes To Electronic Transactions Regulations

As Members will be aware, the ability to send and, more importantly, not send electronically several key NCCP notices, is not directly controlled by the NCCP Act, but rather by the Electronic Transactions  Act and Regulations.

This issue has now become almost urgent, with Australia Post slowing down delivery times from the 4th January this year so that a letter may now take up to 6 business days for delivery of normal post to and from certain areas of Australia.

 ASIC is assisting the Attorney General’s department in assessing what can be changed to improve electronic delivery of notices.

On the 26th February this year, ASIC wrote to the NCPA to seek our views on some potential changes to the Electronic Transactions Regulations 2000 that could make it easier for credit licensees to give more documents to their customers in electronic form under the NCCP Act. 

It is important to note that ASIC is not the decision-maker in relation to the review of the Electronic Transactions Regulations, but rather the Attorney General’s department.

NCPA'S feedback was due today and we’ve just sent our submission to ASIC. 

You can also download a copy of this document from the \Publications\Submissions section of the NCPA website here.