Sch 16Application and transitional provisions relating to Schedule 11 to the Financial Sector Reform (Hayne Royal Commission Response) Act 2020

Schedule 16—Application and transitional provisions relating to Schedule 11 to the Financial Sector Reform (Hayne Royal Commission Response) Act 2020 amending Schedule means Schedule 11 to the Financial Sector Reform (Hayne Royal Commission Response) Act 2020. 2 Reportable situations to which sections 50B and 50C of the National Credit Act will apply Sections 50B and 50C of the National Credit Act, as inserted by item 15 of the amending Schedule, apply in relation to reportable situations arising on or after 1 October 2021. 3 Application of ASIC’s reporting obligations under section 50D of the National Credit Act Section 50D of the National Credit Act, as inserted by item 15 of the amending Schedule, applies in relation to financial years ending on or after 30 June 2022. 4 Application of provisions dealing with notifying and compensating a person affected by a reportable situation Subdivision C of Division 5 of Part 2‑2 of the National Credit Act, as inserted by item 16 of the amending Schedule, applies in relation to reportable situations arising on or after 1 October 2021.