Submission to: Treasury This submission, based on the experience of the Small Business Financial Counselling Support Line, supports the proposed changes to Australia’s insolvency laws, including a new restructuring process. We also recommend that the government establish a free winding up service for micro small businesses analogous to the service provided by AFSA for personal bankruptcies. We also support the call from the Australian Small Business and Family Enterprise Ombudsman for a Small Business Viability Review Program.
Submission to: ASIC We support ASIC using its product intervention power to prohibit short term lending models (the Cigno model). The short term lending model currently being used by Cigno causes significant harm to people and we urge ASIC to intervene urgently.