9 December 2021 - ASIC seeks feedback on proposed intervention orders for short term credit and continuing credit contracts

ASIC has released a consultation paper, Product Intervention Orders: Short Term Credit and Continuing Credit Contracts, on its proposed use of its product intervention powers to address significant consumer detriment in the short term credit and continuing credit contracts industries.

ASIC invites stakeholder feedback on two proposals:

  • Proposal D1 – Make the short term credit product intervention order
  • Proposal D2 – Make the continuing credit product intervention order

Any feedback should be sent by 21 January 2022

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