58BZE

Having regard to processes and guidelines when undertaking internal dispute resolution—civil penalty provision

In force

(1)

A regulated entity contravenes this subsection if the entity:

(a)

is undertaking internal dispute resolution in dealing with a person’s complaint of a kind described in paragraph 58BZD(1)(a) or (b); and

(b)

in doing so, the entity fails to have regard to:

(i)

any process prescribed by the SPF rules for undertaking internal dispute resolution; or

(ii)

any guidelines prescribed by the SPF rules for apportioning any liability arising from the complaint.

(1A)

To avoid doubt, guidelines prescribed for the purposes of subparagraph (1)(b)(ii) do not have to be consistent with sections 58FZD to 58FZK (about proportionate liability for concurrent wrongdoers in actions for damages).

(2)

Subsection (1) is a civil penalty provision.

Note:

This means subsection (1) is a civil penalty provision of an SPF principle for the purposes of section 58FJ (about civil penalties).

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