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Debt Recovery NSW Inquiry Submissions Closed

Monday, May 19, 2014 - Posted by Philip Harvey

In New South Wales, the Governments timeline for submissions into the Debt Recovery in NSW (Inquiry) has now closed. Little is known about the reason why the inquiry is being undertaken.

The terms of reference of the inquiry are;

That the Committee inquire into, and report on, the debt recovery framework in NSW and in particular:
  1. The effectiveness of current legislation and administrative arrangements;
  2. Any barriers to the debt recovery process, and impacts on third parties responding to debt recovery actions;
  3. Possible measures to make the debt recovery process more efficient;
  4. Practice in debt recovery in other jurisdictions; and
  5. Any other relevant matters.

 

Our industry body, the Institute of Mercantile Agents, has made a submission. Included in the submission was the adoption of a negative licensing regime, similar to that of Victoria and what Queensland is currently legislating.

 

We will follow this inquiry and report on the outcome in due course


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