New requirements for loyalty scheme providers

Under the Gambling Regulation Act 2003, loyalty scheme providers are required to send out annual notices to participants informing them of their right to opt out of the loyalty scheme. 

The changes mean that from 1 December 2023, providers must include the following information in the annual notice: 

• the name and contact details of the loyalty scheme provider;
• how the participant can opt out of the scheme;
• how the participant’s tier status and benefits will be dealt with when they opt out; and
• when the opt out will take effect after the participant requests to opt out. 

The VGCCC will monitor industry compliance with this new requirement. Penalties will apply to loyalty scheme providers who fail to include the prescribed information or fail to send out notices. 

The updated regulations can be found on the Victorian Legislation website.

If you have any questions or need for further information, please contact us.