C515:2015 (pdf 431kb)
The Code was revised in 2015 to:
- amend the definition of Customer Authorisation to ensure consistency with its usage in other industry documents;
- remove clauses on Reversals during the cooling off period as the Australian Consumer Law stipulates that provisioning cannot take place during the cooling off period;
- remove the ten Business Day notification period for the Gaining PSD to advise the Customer that the change in Pre-selection has been either completed or rejected, to ensure consistency with the TCP Code (C628:2015);
- update references to relevant legislative instruments;
- remove the requirement that a Gaining PSD must advise the Customer that an Unauthorised Churn has occurred ‘in writing’, as other means of providing information are also used in day to day operations; and
- remove Schedule 2- Customer Authorisation, with the intent being captured in the Customer Authorisation Industry Guideline (G651:2015).