Approved Credit CounselingAuthorised credit advice
Final regulations will enter into force on 15 April 2013. The final clauses in many ways incorporate the clauses of the suggested regulations, which were published for comments in 2008, and each contains several almost identically clauses. EOUST also indicated that it intended to introduce new clauses not previously contained in the proposal.
As they have not been dealt with in the proposal for a rule, EOUST will issue a further notice on the proposal for a rule and invite comments on the proposal. Most of the final regulations consolidate guidelines and guidelines that EOUST has been using for several years in its licensing and monitoring procedures. In addition, the final rule changes the suggested rule by creating it:
1 ) less onerous for credit bureaus or suppliers; and 2 ) by means of technological or clarifying changes. Every final rule is appended with a synopsis of the changes, along with parenthetic notes on the rule text and comments. Authorised bodies and creditor trainers as well as their suppliers of services and claimants should carefully examine these changes and thoroughly examine whether their current operations, even those which may have been previously in conformity, continue to comply with insolvency law in the light of these new final rules.