Compliance with Clause 29 (Debt Collection) – February 2008

In September 2007 the Code Compliance Monitoring Committee (the CCMC) established an Inquiry into bank compliance with Clause 29 of the Code of Banking Practice (the Code), which states:

“We and our collection agents will comply with the Australian Competition and Consumer Commission’s guideline “Debt Collection and the Trade Practices Act” dated June 1999 when collecting amounts due to us, and we will ensure that our representatives do likewise”.

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