The Ministry of Home Affairs has launched a public consultation on the proposed implementation of the Debt Collection Bill 2018 — the initiative announced in the Speech from the Throne in September 2017.
The proposed Bill provides a comprehensive licensing regulatory framework for those entities engaging in Debt Collection under the newly created Debt Collection Licensing Authority.
The introduction of this Bill provides oversight by a Licensing Authority. The aim is to eliminate abusive practices through the creation of a regulatory framework under which creditors and debt collectors may conduct business.
The purpose of the consultation is to allow stakeholders and the general public to provide input regarding the proposed Bill.
The Consultation Process:
1. Written submissions must be received by September 14th, 2018.
2. Your submission must include the following:-
·Your Name
·Your Organization or Company
·Your Email or Phone Number in order to confirm receipt and for clarification purposes pertaining to your submission
3. Your submission should state clearly your point and the reason for making that point
4. Your submission should NOT be sent to the Minister
5. Your submission should be addressed to Karen Marshall, Executive Director, Consumer Affairs
6. Your submissions can be submitted one of three ways:
·Via e-mail to consumers@gov.bm
·Via post to Consumer Affairs, D Rego Building, 75 Reid Street Hamilton HM12
·Hand delivery to Consumer Affairs, 3rd Floor, D. Rego Building, 75 Reid Street, Hamilton HM 12.
All views and responses will be considered in the public consultation process and will be made available to the public. There will be no private consultations. In the interest of transparency, anonymous submissions will not be accepted or considered.
A copy of the proposed bill can be found on the Government portal - https://www.gov.bm/sites/default/files/Debt-Collection-Bill-2018.pdf.