26PDevelopment of CR code by CR code developers

26P Development of CR code by CR code developers

(1) The Commissioner may, in writing, request a CR code developer to develop a CR code and apply to the Commissioner for the code to be registered. (2) The request must: (a) specify the period within which the request must be complied with; and (b) set out the effect of section 26L. (3) The period: (a) must run for at least 120 days from the date the request is made; and (b) may be extended by the Commissioner. (4) The request may: (a) specify one or more matters that the CR code must deal with; and (b) specify the credit providers, or a class of credit providers, that should be bound by the code; and (c) specify the other entities, or a class of other entities, subject to Part IIIA that should be bound by the code. (5) The Commissioner must make a copy of the request publicly available as soon as practicable after the request is made.