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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