Open Forum

Hi everyone the changes made by the ASIC which commence today, the 1/7/2021 in my view could affect some Mediators when a party, or parties in Mediation is, or are Consumer's.
Are you aware of the new ASIC Licence for parties that are involved in debt management services.
I have completed an application for a Licence for MyMediation just to be on the safe side as I practice only in Debt and Contract disputes.
Click on the link below then go down the page to for the definition of  "What is a debt management service"?
 

From 1 July 2021, subject to transitional arrangements set out in the National Consumer Credit Protection Amendment (Debt Management Services) Regulations 2021, providers of debt management services must hold a Credit Licence with a debt management services authorisation. 

What is Debt Management Services the below link provides the information:
https://asic.gov.au/regulatory-resources/credit/debt-management-reforms-credit-licensing/

------------------------------
Denis Stollery
MyMediation
Adelaide SA
414344165
------------------------------

If you happen to be a lawyer who provides mediation services as part of your practice you are exempt from the National Consumer Credit Protection regime in relation to Debt Management Services unless you hold yourself out as providing Debt Management Services.  In other words, where you fit within the definition only incidentally as part of the normal course of a mediation, you are exempt.  [Regulation 24]

------------------------------
Philip Argy
Principal and CEO
ArgyStar.com
Sydney NSW
pargy@argystar.com
+612 9719 8521
------------------------------

Original Message:
Sent: 01-07-2021 10:34 AM
From: Denis Stollery
Subject: Debt Management Services

Hi everyone the changes made by the ASIC which commence today, the 1/7/2021 in my view could affect some Mediators when a party, or parties in Mediation is, or are Consumer's.
Are you aware of the new ASIC Licence for parties that are involved in debt management services.
I have completed an application for a Licence for MyMediation just to be on the safe side as I practice only in Debt and Contract disputes.
Click on the link below then go down the page to for the definition of  "What is a debt management service"?
 

From 1 July 2021, subject to transitional arrangements set out in the National Consumer Credit Protection Amendment (Debt Management Services) Regulations 2021, providers of debt management services must hold a Credit Licence with a debt management services authorisation. 

What is Debt Management Services the below link provides the information:
https://asic.gov.au/regulatory-resources/credit/debt-management-reforms-credit-licensing/

------------------------------
Denis Stollery
MyMediation
Adelaide SA
414344165
------------------------------

Thank you for providing notice of the change of law in respect of the licensing of debt management service providers.  As a legal academic who also provides mediation services (but mainly mediation services these days) I have come to the view that I am not required to be licensed.  This is because I provide facilitative mediation services which basically involves mediating disputes between parties (who are jointly and severally responsible for payment of my fees) and encouraging them to reach a resolution of their dispute.  Having reviewed the link to Table 1 in the ASIC website, I do not believe that facilitative mediators are ever caught by the licensing requirements even if they sometimes mediate disputes between finance providers and consumers under the ACL.  Our business is to encourage parties to reach their own resolution, not to assist them to make applications for extensions of time to pay or for suspension of enforcement process or to provide other debt management services.  I think the laws of statutory construction would have to be strained very greatly for a mediator to be considered a debt management services provider.

------------------------------
Dr John Woodward
Conjoint Lecturer
University of Newcastle NSW
0403 054 411
------------------------------

Original Message:
Sent: 04-07-2021 12:05 PM
From: Philip Argy
Subject: Debt Management Services

If you happen to be a lawyer who provides mediation services as part of your practice you are exempt from the National Consumer Credit Protection regime in relation to Debt Management Services unless you hold yourself out as providing Debt Management Services.  In other words, where you fit within the definition only incidentally as part of the normal course of a mediation, you are exempt.  [Regulation 24]

------------------------------
Philip Argy
Principal and CEO
ArgyStar.com
Sydney NSW
pargy@argystar.com
+612 9719 8521

Original Message:
Sent: 01-07-2021 10:34 AM
From: Denis Stollery
Subject: Debt Management Services

Hi everyone the changes made by the ASIC which commence today, the 1/7/2021 in my view could affect some Mediators when a party, or parties in Mediation is, or are Consumer's.
Are you aware of the new ASIC Licence for parties that are involved in debt management services.
I have completed an application for a Licence for MyMediation just to be on the safe side as I practice only in Debt and Contract disputes.
Click on the link below then go down the page to for the definition of  "What is a debt management service"?
 

From 1 July 2021, subject to transitional arrangements set out in the National Consumer Credit Protection Amendment (Debt Management Services) Regulations 2021, providers of debt management services must hold a Credit Licence with a debt management services authorisation. 

What is Debt Management Services the below link provides the information:
https://asic.gov.au/regulatory-resources/credit/debt-management-reforms-credit-licensing/

------------------------------
Denis Stollery
MyMediation
Adelaide SA
414344165
------------------------------

Thank you for the clarification, it did seem to be a bit of a stretch and the ASIC information was not as precise as it could be.

------------------------------
Serge Killingbeck
Analyst/Mediator
NCA Consulting
Goonellabah NSW
422970871
------------------------------

Original Message:
Sent: 05-07-2021 10:46 AM
From: John Woodward
Subject: Debt Management Services

Thank you for providing notice of the change of law in respect of the licensing of debt management service providers.  As a legal academic who also provides mediation services (but mainly mediation services these days) I have come to the view that I am not required to be licensed.  This is because I provide facilitative mediation services which basically involves mediating disputes between parties (who are jointly and severally responsible for payment of my fees) and encouraging them to reach a resolution of their dispute.  Having reviewed the link to Table 1 in the ASIC website, I do not believe that facilitative mediators are ever caught by the licensing requirements even if they sometimes mediate disputes between finance providers and consumers under the ACL.  Our business is to encourage parties to reach their own resolution, not to assist them to make applications for extensions of time to pay or for suspension of enforcement process or to provide other debt management services.  I think the laws of statutory construction would have to be strained very greatly for a mediator to be considered a debt management services provider.

------------------------------
Dr John Woodward
Conjoint Lecturer
University of Newcastle NSW
0403 054 411

Original Message:
Sent: 04-07-2021 12:05 PM
From: Philip Argy
Subject: Debt Management Services

If you happen to be a lawyer who provides mediation services as part of your practice you are exempt from the National Consumer Credit Protection regime in relation to Debt Management Services unless you hold yourself out as providing Debt Management Services.  In other words, where you fit within the definition only incidentally as part of the normal course of a mediation, you are exempt.  [Regulation 24]

------------------------------
Philip Argy
Principal and CEO
ArgyStar.com
Sydney NSW
pargy@argystar.com
+612 9719 8521

Original Message:
Sent: 01-07-2021 10:34 AM
From: Denis Stollery
Subject: Debt Management Services

Hi everyone the changes made by the ASIC which commence today, the 1/7/2021 in my view could affect some Mediators when a party, or parties in Mediation is, or are Consumer's.
Are you aware of the new ASIC Licence for parties that are involved in debt management services.
I have completed an application for a Licence for MyMediation just to be on the safe side as I practice only in Debt and Contract disputes.
Click on the link below then go down the page to for the definition of  "What is a debt management service"?
 

From 1 July 2021, subject to transitional arrangements set out in the National Consumer Credit Protection Amendment (Debt Management Services) Regulations 2021, providers of debt management services must hold a Credit Licence with a debt management services authorisation. 

What is Debt Management Services the below link provides the information:
https://asic.gov.au/regulatory-resources/credit/debt-management-reforms-credit-licensing/

------------------------------
Denis Stollery
MyMediation
Adelaide SA
414344165
------------------------------