Financial Sector Reform (Hayne Royal Commission Response) Act 2020 (135 of 2020)
Schedule 1 Enforceable code provisions
National Consumer Credit Protection Act 2009
9 Subsection 5(1)
Insert:
approved code of conduct means a code of conduct approved by ASIC by legislative instrument under section 238A, and includes a replacement code of conduct approved under that section.
code of conduct means a code of conduct that relates to any aspect of the activities of:
(a) licensees; or
(b) credit representatives;
being activities in relation to which ASIC has a regulatory responsibility.
enforceable code provision means a provision of an approved code of conduct identified by ASIC under subsection 238A(2).
mandatory code of conduct means a code of conduct that is declared by regulations under section 238F to be mandatory.
subscriber , in relation to an approved code of conduct:
(a) means a person or entity that agrees, in a way required by the applicant for the code's approval, to be bound by the code; and
(b) if a person or entity no longer agrees to be bound by the code - includes the person or entity during the period that the person or entity did agree to be so bound.
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