ASIC Credit (Updated Details for Prescribed Disclosure) Instrument 2026/122

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ASIC Credit (Updated Details for Prescribed Disclosure) Instrument 2026/122

I, Nathan Bourne, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date 24 March 2026

Nathan Bourne

Contents

Part 1—Preliminary 3

1 Name of legislative instrument....................................3

2 Commencement...............................................3

3 Authority....................................................3

4 Schedules....................................................3

5 Simplified outline of this instrument...............................3

6 Definitions...................................................3

Part 2—Declaration 3

7 Update to information in reverse mortgage information statements.......3

Part 3—Repeal 4

8 Repeal.......................................................4

Part 1—Preliminary

1 Name of legislative instrument

This is the ASIC Credit (Updated Details for Prescribed Disclosure) Instrument 2026/122.

2 Commencement

This instrument commences on the day after it is registered on the Federal Register of Legislation.

Note: The register may be accessed at www.legislation.gov.au.

3 Authority

This instrument is made under paragraph 163(3)(d) of the National Consumer Credit Protection Act 2009.

4 Schedules

Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its term.

5 Simplified outline of this instrument

This instrument modifies the Act to remove outdated content from a reverse mortgage information statement.

6 Definitions

In this instrument:

Act means the National Consumer Credit Protection Act 2009.

Regulations means the National Consumer Credit Protection Regulations 2010.

Part 2—Declaration

7 Update to information in reverse mortgage information statements

The provisions to which Part 3-7 of the Act applies in relation to a licensee as if Schedule 5A to the Regulations were modified or varied to omit the last paragraph under the heading “SOURCES OF OTHER INFORMATION”, including Note 3.

Note: The provisions to which Part 3-7 of the Act applies are set out in section 162 of the Act.

Part 3—Repeal

8 Repeal

This instrument is repealed at the start of 1 April 2031.

Schedule 1—Repeals

ASIC Credit (Updated details for prescribed disclosure) Instrument 2016/200

1 The whole of the instrument

Repeal the instrument.