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December 6, 2011

Updated 2012 compliance calendar

With the passage of important legislation in November, it is worth updating the list of new obligations starting in 2012 (subject to change!):

1 January 2012

  • standard ACL wording in warranties against defects
  • new home loan key facts sheet starts
  • new national work health and safety laws
  • new unconscionable conduct rules start (estimated)
  • Super funds and RSA providers can use TFN's to identify and consolidate accounts

30 January 2012

  • PPS Register starts

1 February 2012

  • new deposit guarantee limit starts

1 April 2012

  • deadline for credit licensees to commence use of Australian Credit Licence numbers

1 July 2012

  • consolidated APRA prudential standards take effect
  • new national system for business names registration
  • Financial advice reforms due to start
  • new credit card disclosure provisions start
  • new reverse mortgage rules start
  • New account switching rules
  • new hardship loan variation rules
  • new consumer leases rules
  • new small amount credit contract rules
  • new national Not For Profits Regulation starts
  • new price signalling laws for banking sector (estimated)
  • carbon pricing scheme commences

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Posted 6th December 2011 by admin in Business Planning, Compliance