The Greens say the Parliament needs to be aware that making the Cashless Debit Card permanent may jeopardise the integrity of ASIC’s regulatory powers.
Under section 12DL of the Australian Securities and Investments Commission (Asic) Act 2001, sending a debit card or credit card to a person who did not ask for one is prohibited.
While ASIC provided the Government a no-action letter on the original trial sites it is limited to the first trial of the card and will not cover the ongoing and broader permanent program proposed in the bill.
“The Cashless Debit Card is not compatible with human rights or in line with the Closing the Gap objectives, and it breaches the Australian Securities and Investments Commission (Asic) Act 2001”, Senator Rachel Siewert said.
ASIC should follow the letter of the law and take action against the Government sending unsolicited cards to people on income support.
Given the robodebt debacle, it’s hardly the right time to be pursuing yet another program with legal questions hanging over it.
ASIC should not just turn their powers on and off when it suits the Government.
Lucy Cowcher-Guthrie: 0418 401 180