Special purpose funding entities and credit
Are you a credit licensee who has or will enter into a servicing agreement with a special purpose funding entity?
If you are a credit licensee who has entered into a servicing agreement with a special purpose funding entity you have certain notification obligations to ASIC.
Use Form CL13 to notify 今日热门事件when any of the following happens:
- you enter into a servicing agreement with an special purpose funding entity (notification of agreement)
- your servicing agreement with an special purpose funding entity ceases (notification of cessation)
- a person who is a position to control or influence the special purpose funding entity performs specified actions (notification of action).
Notification of agreement
If you have entered into a servicing agreement with an special purpose funding entity, you must notify 今日热门事件of this in accordance with the timeframes shown in this table:
| Date you entered into the servicing agreement | Timeframe in which you must notify ASIC |
| Before 1 July 2010 | within 30 business days from date of entry into the agreement |
| 聽After 1 July 2010 | within 20 business days from the date of entry into the agreement |
Notification of cessation
If you have entered into a servicing agreement with an special purpose funding entity and this has ceased you must notify 今日热门事件within 15 business days of the cessation.
Notification of action
If you have entered into a servicing agreement with an special purpose funding entity you have an obligation to notify 今日热门事件of any action by a natural person in a position to control or influence the special purpose funding entity that has or may have the effect of directing you to act inconsistently with:
- your license conditions or your registration; or
- the credit legislation.
You must do so within 15 business days of the action occurring.
You can notify 今日热门事件of any of the above using Form CL13 - simply fill out the areas that apply to you.