Commonwealth Consolidated Acts

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Development of CR code by CR code developers

             (1)  The Commissioner may, in writing, request a CR code developer to develop a CR code and apply to the Commissioner for the code to be registered.

             (2)  The request must:

                     (a)  specify the period within which the request must be complied with; and

                     (b)  set out the effect of section 26L.

             (3)  The period:

                     (a)  must run for at least 120 days from the date the request is made; and

                     (b)  may be extended by the Commissioner.

             (4)  The request may:

                     (a)  specify one or more matters that the CR code must deal with; and

                     (b)  specify the credit providers, or a class of credit providers, that should be bound by the code; and

                     (c)  specify the other entities, or a class of other entities, subject to Part IIIA that should be bound by the code.

             (5)  The Commissioner must make a copy of the request publicly available as soon as practicable after the request is made.

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