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This instrument amends the ASIC Corporations, Credit and Superannuation (Internal Dispute Resolution) Instrument 2020/98 to incorporate an updated version of Regulatory Guide 271 and remove enforceability from four paragraphs that overlapped with existing legislative requirements.
Administered by: Treasury
Registered 29 Sep 2021
Tabling HistoryDate
Tabled HR18-Oct-2021
Tabled Senate18-Oct-2021
Table of contents.

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ASIC Corporations, Credit and Superannuation (Amendment) Instrument 2021/753

I, Sarah Edmondson, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

 

Date    28 September 2021

 

 

Sarah Edmondson

 



Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC Corporations, Credit and Superannuation (Amendment) Instrument 2021/753.

2        Commencement

This instrument commences on the day after it is registered on the Federal Register of Legislation.

Note:    The register may be accessed at www.legislation.gov.au.

3        Authority

This instrument is made under:

(a)     subsection 11(4) of the Australian Securities and Investments Commission Act 2001 for the purposes of subparagraphs 912A(2)(a)(i) and 1017G(2)(a)(i) of the Corporations Act 2001; and

(b)     subsection 12A(6) of the Australian Securities and Investments Commission Act 2001 for the purposes of:    

(i)      paragraph 47(1)(b) of the Retirement Savings Accounts Act 1997; and

(ii)     paragraph 101(1)(b) of the Superannuation Industry (Supervision) Act 1993; and

(iii)    subparagraph 47(1)(h)(i) of the National Consumer Credit Protection Act 2009; and

(iv)    subparagraph 47(1)(e)(i) of the National Consumer Credit Protection Act 2009 as notionally inserted by regulation 25E and Schedule 2 to the National Consumer Credit Protection Regulations 2010; and

(c)     subsection 47(2A) of the Retirement Savings Accounts Act 1997 and subsection 101(1B) of the Superannuation Industry (Supervision) Act 1993.

4        Schedules

Each instrument that is specified in a Schedule to this instrument is amended as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1—Amendments

ASIC Corporations, Credit and Superannuation (Internal Dispute Resolution) Instrument 2020/98

1        Section 4 (definition of Regulatory Guide 271)

Omit “30 July 2020”, substitute “2 September 2021”.

2        Subparagraph 5(1)(e)(viii)

Repeal the subparagraph, substitute:

(viii) paragraphs 86, 89, 92 and 93;

3        Subparagraph 5(1)(g)(i)

Omit “111 – 113”, substitute “111 and 112”.