Federal Register of Legislation - Australian Government

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ASIC Class Order [CO 09/339]

Authoritative Version
CO 09/339 Orders/ASIC Class Orders as made
This Class Order provides for ASIC's Internal Dispute Resolution Requirements.
Administered by: Treasury
Registered 15 May 2009
Tabling HistoryDate
Tabled HR25-May-2009
Tabled Senate15-Jun-2009
Date of repeal 27 Sep 2019
Repealed by ASIC Corporations and Credit (Repeal) Instrument 2019/966

Australian Securities and Investments Commission

Corporations Act 2001 — Subparagraphs 912A(2)(a)(i) and 1017G(2)(a)(i) — Approval

Enabling legislation

1.      The Australian Securities and Investments Commission (ASIC) makes this instrument under subparagraphs 912A(2)(a)(i) and 1017G(2)(a)(i) of the Corporations Act 2001 (the Act).

Title

2.      This instrument is ASIC Class Order [CO 09/339].

Commencement

3.      This instrument commences on the date it is registered under the Legislative Instruments Act 2003.

Note:       An instrument is registered when it is recorded on the Federal Register of Legislative Instruments (FRLI) in electronic form: see Legislative Instruments Act 2003, s 4 (definition of register). The FRLI may be accessed at http://www.frli.gov.au/.

 

Approval

 

4.      ASIC approves the following standards and requirements in relation to an internal dispute resolution procedure:

 

(a)        the procedure covers a “complaint” as defined in AS ISO 10002—2006;

 

(b)        the “Guiding principles” in section 4 of AS ISO 10002—2006;

 

(c)        the following sections of AS ISO 10002—2006:

 

(i)      section 5.1—Commitment;

 

(ii)     section 6.4—Resources;

 

(iii)    section 8.1—Collection of Information;

 

(iv)    section 8.2—Analysis and evaluation of complaints;

 

(d)        the procedure must include adequate measures for informing complainants about the availability and accessibility of an external dispute resolution scheme of which the relevant person is a member.

 

5.      Until 31 December 2009, ASIC approves the following standards and requirements in relation to an internal dispute resolution procedure:

 

(a)        the “Essential elements of effective complaints handling” in section 2 of AS 4269—1995;

 

(b)        the procedure is documented so as to:

(i)      ensure that a person, complainant or otherwise, will be able to find out how and by whom a complaint will be handled and what further rights a complainant will have if a complainant continues to be dissatisfied; and

(ii)     assist in the training of, and provide guidance to, employees or agents of the relevant person to handle complaints;
 

(c)        the procedure must include adequate measures for informing complainants about the availability and accessibility of an external dispute resolution scheme of which the relevant person is a member.

 

Interpretation

 

In this instrument:

 

AS 4269—1995 means Australian Standard AS 4269—1995 known as Complaints handling published by Standards Australia as in force as at 5 February 1995.

 

AS ISO 10002—2006 means Australian Standard AS ISO 10002—2006 known as Customer Satisfaction—Guidelines for complaints handling in organizations published by Standards Australia as in force as at 5 April 2006.

 

external dispute resolution scheme means a scheme set out in ASIC Class Order [CO 09/340].

 

relevant person means a person subject to subsections 912A(1) or 1017G(1) of the Act as applicable.

 

 

 

Dated this 13th day of May 2009

 

 

 

 

 

Signed by Brendan Byrne

as a delegate of the Australian Securities and Investments Commission