New section 30J: Statement of policy with respect to consumer redress orders
596.Subsection (1) imposes a duty on the Authority to prepare and publish a statement of policy in respect of making consumer redress orders and the determination of the requirements to be imposed by the order. The statement of policy will help the Authority set out some of the circumstances in which it may decide to make a consumer redress order and also describe how it will decide what type of requirements to include within consumer redress orders for the purpose of remedying the consequences of a contravention.
597.Subsection (2) imposes a duty on the Authority to have regard to its current statement of policy when deciding whether to make a consumer redress order and in determining the requirements to be imposed by the order. Subsection (3) enables the Authority to revise its statement of policy but if it does it is required to publish the revised statement.
598.Subsection (4) allows the Authority to publish the statement of policy in a manner the Authority considers appropriate to bring it to the attention of those likely to be affected.
599.Subsection (5) imposes a duty on the Authority to consult such persons as it considers appropriate when preparing or revising its statement of policy.