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ASIC Corporations (Amendment) Instrument 2022/20

Authoritative Version
  • - F2022L00126
  • No longer in force
Other as made
This instrument amends the ASIC Corporations (Financial Counselling Agencies) Instrument 2017/792 to ensure that the relief which financial counselling agencies rely upon is not disrupted by the claims handling law reforms.
Administered by: Treasury
Registered 10 Feb 2022
Tabling HistoryDate
Tabled HR14-Feb-2022
Tabled Senate28-Mar-2022
Date of repeal 27 Sep 2022
Repealed by Division 1 of Part 3 of Chapter 3 of the Legislation Act 2003
Table of contents.

Commonwealth Coat of Arms and ASIC logo

ASIC Corporations (Amendment) Instrument 2022/20

I, Rhys Bollen, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.


Date    8 February 2022




Rhys Bollen


Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC Corporations (Amendment) Instrument 2022/20.

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 paragraph 926A(2)(a) of the Corporations Act 2001.

4        Schedules

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

Schedule 1—Amendments

ASIC Corporations (Financial Counselling Agencies) Instrument 2017/792

1        Section 4 (definition of financial counselling association)

Omit the definition, substitute:

financial counselling association means each of the following:

(a)     Financial Counselling Australia Ltd;

(b)     Financial Counselling Victoria Inc.;

(c)     Financial Counsellors Association of New South Wales Inc;

(d)     Financial Counsellors Association of Western Australia Inc;

(e)     Financial Counsellors Association of Queensland Inc.;

(f)     The South Australian Financial Counsellors’ Association Incorporated;

(g)     Financial Counselling Tasmania Inc.;

(h)     Financial Counsellors ACT.

2        Section 5

Omit subparagraph 5(2)(e)(i), substitute:

(i)      does not carry on or otherwise participate in a financial services business which involves the provision of a financial service, other than a financial service (exempt financial service) that is:

(A)    a financial service referred to in subsection (1) and in relation to which paragraphs (2)(a) to (d) are satisfied; or

(B)    a claims handling and settling service; and