About this Code
From 29 March 2016, the ePayments Code issued 20 October 2011 is amended as follows:
- In About this Code, the words ‘Credit Ombudsman Service Limited’ are omitted and substituted with ‘Credit and Investments Ombudsman’.
- Under the heading ‘Who is bound by this Code?’, the link ‘www.asic.gov.au/asic/asic.nsf/byheadline/List-of-EFT-Code-members-A-H?openDocument’ is omitted and substituted with ‘http://asic.gov.au/for-consumers/codes-of-practice/epayments-code/epayments-code-subscribers/’
- Under the heading ‘What does this Code do?’, the link ‘www.asic.gov.au/asic/asic.nsf/byheadline/Electronic+Funds+Transfer:+Code+of+Conduct?opendocument’ is omitted and substituted with ‘http://asic.gov.au/regulatory-resources/financial-services/epayments-code/’
Chapter D – Conduct
Electronic Communication
From 29 March 2016, the ePayments Code, issued 20 October 2011 is amended as follows:
- Clause 21.1 is omitted and substituted with:
21.1 If this Code requires a subscriber to give a user any information under this Code, the subscriber can give the information electronically by:
- sending the information by a form of electronic communication nominated by the user,
- notifying the user that the subscriber has made the information available electronically, or
- another manner agreed with the user,
if the following conditions are met:
- the subscriber must provide an effective and convenient process for users to update their contact details,
- it must be easy for users to retrieve, read and store the information,
- if information is given by notifying a user that the information is available electronically:
- the information must be available electronically in that manner (relevant electronic manner) for a reasonable period,
- unless the user has agreed to receive information, or information of that type, in that manner – the subscriber must have given the user at least seven days’ notice that it may use the relevant electronic manner to make the information, or information of that type, available to the user unless the user elects, by a means reasonably specified in the notice, not to receive information in that manner, an
- the user must not have made an election referred to in clause 21.1(f)(ii), and
- the user must be able to request a paper copy of the information for seven years from the time the information is given.
- Clause 21.2 is omitted and substituted with:
21.2 If a subscriber provides a facility designed exclusively for electronic use, and this Code requires the subscriber to give a user any information under this Code, the subscriber can give the information electronically by:
- sending the information using electronic communication,
- using electronic communication to notify the user that the information is available electronically, or
- another manner agreed with the user,
if the following conditions are met:
- the subscriber must clearly disclose the following matters before the user first performs a transaction using the facility:
- that information will be given electronically and paper copies will not be available; and
- if clause 21.2(a) or 21.2(b) applies, that the subscriber will use that method of communication,
- it must be easy for users to retrieve, read and store the information,
- the information must be made available electronically by the subscriber for a reasonable period, and
- the subscriber must provide an effective and convenient process for users to update their contact details.
ePayments Code as amended from 29 March 2016 (PDF 865 KB)
