The NSW Government is seeking public feedback on law reforms which will shape how debt collectors, process servers and repossessors conduct business.
Significant reforms are being made to the regulation of commercial agents as the responsibility for oversight and licensing of commercial agents is being transferred from the NSW Police Force to NSW Fair Trading.
NSW Fair Trading Commissioner Rose Webb said the reforms will introduce a new licensing system and new conduct requirements for debt collectors, process servers and repossessors.
“The community feedback we are seeking from this consultation is crucial to shaping the licensing framework,” Ms Webb said.
“The people of NSW will be asked about a wide range of issues that will affect how debt collectors, process servers and repossessors operate, including the reasons why agents may be deemed not fit and proper to hold a licence, when it is suitable for an agent to contact a person, how client funds are handled and suitable penalties for agents who fail to comply with the law.
“These reforms will allow us to better regulate and maintain a high standard of conduct in the industry.”
Submissions will be carefully considered and if necessary, the NSW Government will amend the draft Regulation to address issues raised during the consultation process.
Feedback can be provided here until Sunday November 1: https://www.haveyoursay.nsw.gov.au/commercial-agents