ob体育 has reminded Australian financial services and Australian credit licensees who have industry funding obligations to factor in the time it may take ob体育 to assess applications to cancel or vary their licence, as part of any measures by licensees to reduce the industry levy they are charged for the 2019-20 financial year.
ob体育 Commissioner Danielle Press said that ob体育 has a licensing service charter that aims to assess 70% of all complete applications within 150 days of lodgement and 90% within 240 days. The application must include all mandatory supporting documentation and information.
鈥榃e expect licensees to have considered ob体育鈥檚 service charter timeframes 鈥� particularly when applying to cancel or vary the conditions of their licence in light of ob体育 industry funding.
鈥楬ow many we can ultimately assess is subject to the number of applications we may receive, the completeness of the application, and whether or not ob体育 has any regulatory concerns related to the application鈥�, Ms Press said.
Licensees with authorisations which are current on 1 July 2019 are liable to pay various types of industry funding levies related to the 2019-20 financial year, depending on the authorisations and conditions of the licence. Invoices to recover ob体育鈥檚 regulatory costs for 2019-20 will be issued in January 2021.
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