This Consultation Paper (Part 2) is published by the Consumer Credit Oversight Board Task Force (Task Force) subsequent to the issuance of Consultation Paper (Part 1) on 4 August 2022. The Task Force had received constructive feedback from various stakeholders in relation to Part 1 of the Consultation Paper.

The Task Force further gathered specific perspectives via several industry townhall sessions held on 25 and 26 August 2022. All views, comments and proposals have been duly considered in setting forth the proposed detailed requirements for the regulatory framework targeted for entities carrying on the business of providing credit and credit services. The Task Force’s response to and positions on public feedback received on Consultation Paper (Part 1) are set out in Appendix 1.

The Task Force invites written feedback on the regulatory requirements and expectations proposed in this Consultation Paper, including suggestions on any issues or areas which need further clarification, or alternative proposals which the Task Force should consider. The written feedback should be supported with clear rationale, evidence, or illustrations, as may be appropriate, to facilitate the Task Force’s assessment.

Feedback and comments are to be submitted to the Task Force by 15 May 2023 via the below methods :