Financial hardship policy
32 Financial hardship policy
A licensee must have a written policy (a financial hardship policy) in relation to financial hardship.
A licensee’s financial hardship policy does not have effect unless it is approved by the Authority.
Unless the Authority approves otherwise, a licensee’s financial hardship policy must comply with the Authority’s guidelines (if any) in relation to financial hardship policies.
Subclauses (2) and (3) also apply to amendments to a licensee’s financial hardship policy.
A licensee’s financial hardship policy must be in effect before the end of the 6‑month period starting on the day of the grant of the licensee’s licence.
The financial hardship policy must be publicly available.
A licensee must review its financial hardship policy if directed to do so by the Authority.
A licensee must consult with relevant consumer organisations whenever the licensee is —
developing a financial hardship policy; or
making a material amendment to its financial hardship policy.
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.