Field          Business

 

Review of Credit Management unit standard 16761

 

Subfield

Domain

ID

Financial Management

Credit Management

16761

 

The Skills Organisation has completed the review of unit standard 16761.

 

Date new version published                                                             August 2016

 

Planned review date                                                                           December 2020

 

Summary

 

The unit standard has been reviewed to recognise that the law relating to credit repossessions has changed, and moved from the Credit (Repossessions) Act 1997 to the Credit Contracts and Consumer Finance Act 2015.

 

Main changes

 

·      Planned review date has been changed to 31 December 2020

·      Reference to applicable legislation has been changed.

·      Description of phase over arrangements has been added.

·      Outcome 4 (Miscellaneous legislation) has been updated to cover measures that are more relevant to the current environment.

 

Detailed list of unit standards – classification, title, level, and credits

 

All changes are in bold.

 

Key to review category

A

Dates changed, but no other changes are made - the new version of the standard carries the same ID and a new version number

B

Changes made, but the overall outcome remains the same - the new version of the standard carries the same ID and a new version number

C

Major changes that necessitate the registration of a replacement standard with a new ID

D

Standard will expire and not be replaced

 

Business> Financial Management> Credit Management

ID

Title

Level

Credit

Review Category

16761

Demonstrate knowledge of the repossession of goods in accordance with the Credit (Repossession) Act

Demonstrate knowledge of the repossession of goods in accordance with credit repossession legislation

4

10

B