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06/12/20

20:43

Post #: 49378641
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Originally posted by simgrund: ↑

I accept your apology, just as I accepted an apology from SR Group some time ago.
You are a mean, spiteful, obnoxious, odious, et al, person.
500 (???) out of 10,000+ PIF victims is not an avalanche of approval for another
scheme to denude flimsy bank accounts of PIF remainders.

In the main; as I will tirelessly repeat, the SCHEME is predicated on
ESTABLISHING it in a 5 year period from commencement date yet to be announced.

These 2 paragraphs from Treasurer's announcement explain it best:

".... Use of Funding Amount$2.6 million -
1. Designing and implementing an industry-funded compensation scheme of last resort (CSLR) for consumers and small businesses. $2.8 million -
2. Providing the Australian Financial Complaints Authority (AFCA) with additional funding to help establish a historical redress scheme to consider eligible financial complaints dating back to 1 January 2008. $30.7 million - Paying compensation owed to consumers and small businesses from legacy unpaid external dispute resolution determinations.$404.8 million - "

I, as will others, will look at it again when the SCHEME is legislated,
the Registration Books be opened for participation in the SCHEME.
And I will happily surrender my priority on the Registration List to
any SR Group members allotted their spots on the List.

Cheers,

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Hope this helps from ASIC ASIC noted it was currently monitoring over 100 remediations that could see the return of at least another $3.55 billion in total to over 3.6 million consumers. Since October, 2019, about $1.68 billion had been returned to consumers in relation to finalised and ongoing financial system remediations.Submissions on CP335 were due by 26 February, 2021.

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0 Great analysis

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