About this compilation

This compilation

This is a compilation of the ASIC Credit (Litigation Funding – Exclusion) Instrument 2020/37 that shows the text of the law as amended and in force on 13/12 /2025 (the compilation date).

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au).

Application, saving and transitional provisions

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. Any modifications affecting the law are accessible on the Register.

Self‑repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

Contents

Part 1—Preliminary

1 Name of legislative instrument

3 Authority

4 Definitions

Part 2—Exclusion

5 Litigation funding and proof of debt funding arrangements

Endnotes

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

Part 1—Preliminary

1 Name of legislative instrument

This is the ASIC Credit (Litigation Funding – Exclusion) Instrument 2020/37.

3 Authority

This instrument is made under subsection 6(17) of National Credit Code.

4 Definitions

In this instrument:

Code means the National Credit Code.

Note: The Code is found in Schedule 1 to the National Consumer Credit Protection Act 2009.

Part 2—Exclusion

5 Litigation funding and proof of debt funding arrangements

(1) ASIC excludes from the application of the Code a provision of credit constituted by:

(a) an arrangement (a litigation funding arrangement) for participating in, conducting and funding legal proceedings brought by or on behalf of a person or persons; or

(b) an arrangement (a proof of debt funding arrangement) for proving claims made by a person or persons under Division 6 of Part 5.6 of the Corporations Act 2001 (including funding of the preparation and lodgment of the proofs).

(2) Subsection (1) applies until the end of 31 January 2029.

Endnotes

Endnote 1—About the endnotes

The endnotes provide information about this compilation and the compiled law.

The following endnotes are included in every compilation:

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

Abbreviation key—Endnote 2

The abbreviation key sets out abbreviations that may be used in the endnotes.

Legislation history and amendment history—Endnotes 3 and 4

Amending laws are annotated in the legislation history and amendment history.

The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.

The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.

Misdescribed amendments

A misdescribed amendment is an amendment that does not accurately describe how an amendment is to be made. If, despite the misdescription, the amendment can be given effect as intended, then the misdescribed amendment can be incorporated through an editorial change made under section 15V of the Legislation Act 2003.

If a misdescribed amendment cannot be given effect as intended, the amendment is not incorporated and “(md not incorp)” is added to the amendment history.

Endnote 2—Abbreviation key

ad = added or inserted	orig = original
am = amended	p = page(s)
amdt = amendment	para = paragraph(s)/subparagraph(s)
C[x] = Compilation No. x	/sub‑subparagraph(s)
ch = Chapter(s)	pres = present
cl = clause(s)	prev = previous
cont. = continued	(prev…) = previously
def = definition(s)	pt = Part(s)
Dict = Dictionary	r = regulation(s)/Court rule(s)
disallowed = disallowed by Parliament	reloc = relocated
div = Division(s)	renum = renumbered
exp = expires/expired or ceases/ceased to have	rep = repealed
effect	rs = repealed and substituted
gaz = gazette	s = section(s)/subsection(s)
LA = Legislation Act 2003	/rule(s)/subrule(s)/order(s)/suborder(s)
LIA = Legislative Instruments Act 2003	sch = Schedule(s)
(md not incorp) = misdescribed amendment	SLI = Select Legislative Instrument
cannot be given effect	SR = Statutory Rules
mod = modified/modification	sub ch = Sub‑Chapter(s)
No. = Number(s)	sub div = Subdivision(s)
Ord = Ordinance	sub pt = Subpart(s)
	underlining = whole or part not
	commenced or to be commenced

Endnote 3—Legislation history

Name	Registration	Commencement	Application, saving and transitional provisions
ASIC Credit (Litigation Funding—Exclusion) Instrument 2020/37	21/1/2020 (see F2020L00035)	22/1/2020
ASIC Corporations and Credit (Amendment and Repeal) Instrument 2022/1032	15/12/2022 (see F2022L01651)	16/12/2022
ASIC Corporations and Credit (Amendment) Instrument 2025/809	12/12/2025 (see F2025L01575)	13/12/2025

Provision affected	How affected
Section 2	rep. s48D LA
Section 5	am. 2022/1032
Section 5	am. 2025/809