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Proposal G1


[ Galexia Dots ]

We propose that ASIC should have a general power to modify the EFT Code as it applies to a product or class of products, subject to principles of procedural fairness.

 

G1Q1 Do you agree with this proposal? Please give reasons.

Consumer stakeholders accept that the pace of technological change in the EFT context may require greater flexibility in the review and amendment of the EFT Code. Consumer stakeholders support a more flexible approach to amendment of the Code, including a general power for ASIC to amend the Code in exceptional circumstances.

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