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ASIC Class Order [CO 10/250]

Authoritative Version
CO 10/250 Orders/ASIC Class Orders as amended, taking into account amendments up to ASIC Corporations and Credit (Amendment) Instrument 2018/937
Administered by: Treasury
Registered 21 Jan 2019
Start Date 26 Oct 2018
Date of repeal 27 Sep 2019
Repealed by ASIC Corporations and Credit (Repeal) Instrument 2019/966

ASIC Class Order [CO 10/250]

About this compilation

 

Compilation No. 1

 

This is a compilation of ASIC Class Order [CO 10/250] as in force on 26 October 2018. It includes any commenced amendment affecting the legislative instrument to that date.

 

This compilation was prepared by the Australian Securities and Investments Commission.

 

The notes at the end of this compilation (the endnotes) include information

about amending instruments and the amendment history of each amended provision.

 

Australian Securities and Investments Commission

National Consumer Credit Protection Act 2009 — Subparagraph 47(1)(h)(i) — Approval

Enabling legislation

1.      The Australian Securities and Investments Commission (ASIC) makes this instrument for the purposes of subparagraph 47(1)(h)(i) of the National Consumer Credit Protection Act 2009 (the Act).

Title

2.      This instrument is ASIC Class Order [CO 10/250].

Commencement

3.      This instrument commences on the day 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;

 

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

 

(c)        the following sections of AS ISO 10002:

 

(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 the AFCA scheme.

 

Interpretation

 

5.     In this instrument:

 

AS ISO 10002 means Australian Standard AS ISO 10002 known as Complaints Handling published by Standards Australia as in force as at 5 April 2006.

 

 

Notes to ASIC Class Order [CO 10/250]

Note 1

ASIC Class Order [CO 10/250] (in force under s47(1)(h)(i) of the Corporations Act 2001) as shown in this compilation comprises that Class Order amended as indicated in the tables below.

Table of Instruments

Instrument number

Date of making or FRL registration

Date of commencement

Application, saving or transitional provisions

[CO 10/250]

7/5/2010 (see F2010L01195)

7/5/2010

 

2018/937

25/10/2018 (see F2018L01466)

Sch 1: 26/10/2018


Sch 2: 26/10/2018

Applies on and after 1/11/2018

Applies on and after 1/11/2018

Table of Amendments

ad. = added or inserted     am. = amended     LA = Legislation Act 2003    rep. = repealed     rs. = repealed and substituted

Provision affected

How affected

Subpara 4(d)...............

am. 2018/937 Sch 1 and 2018/937 Sch 2

Para 5 (definition of external dispute resolution scheme)......



rs. 2018/937