Group Purchasing Bodies Update EXECUTIVE SUMMARY ASIC Class Order 08/1 Group Purchasing Bodies (GPBs) has yet again been amended to extend the transition period for the breach reporting requirements in relation to the Class Order relief. The above is aimed to allow...
A statutory policy comes into effect by reason of an insurer’s failure to give a renewal notice under section 58(2) of the ICA at least 14 days prior to expiry. This case confirms that the statutory policy will only continue for the period of the expiring policy...
Significant Financial Ombudsman Changes Come into Force from 1 July 2015 Financial service providers should be aware that significant administrative changes regarding the Financial Ombudsman Service will come into effect from 1 July 2015. ADMINISTRATIVE CHANGES:...
The Government has announced the receipt of a reform package on behalf of the retail life insurance industry (effectively its response to the Trowbridge report and Financial System Inquiry). The reform package is designed to address the issues identified by ASIC in...
The Government has committed to extend the consumer unfair contract term protections to small businesses and has released for public consultation the exposure draft legislation to give effect to the extension by changes to the ASIC Act and Competition and Consumer Act...
Release of Natural Disaster Funding Arrangements Inquiry Report The Productivity Commission has now made available its two volumes Volume 1 and Volume 2 of the Natural Disaster Funding Arrangements Inquiry Report. The Commission lists the following key points arising...
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