Document ID: chunk:federal_register_of_legislation:F2020C00541:body:0:p2
Version: federal_register_of_legislation:F2020C00541
Segment Type: other
Provision Reference: 
Character Range: 2933–5113

the SIS Act.
RSA Act means the Retirement Savings Account Act 1997.
RSA provider has the same meaning as in the RSA Act.
unlicensed carried over instrument lender has the meaning given by subsection 5(1) 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.

       Part 2—Approval

5 Standards and requirements

   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) except in relation to an unlicensed carried over instrument lender—the procedure must include adequate measures for informing complainants about the availability and accessibility of the AFCA scheme;

        (e) if an unlicensed carried over instrument lender is a member of the AFCA scheme—the procedure must include adequate measures for informing complainants about the availability and accessibility of the scheme.

Part 3—Application

6 Transitional
    This instrument applies in relation to a complaint received before 5 October 2021 by a financial firm.

Endnotes

Endnote 1—Instrument history

Instrument number  Date of FRL registration     Date of commencement  Application, saving or transitional provisions
2019/965           26/9/2019 (see F2019L01274)  27/9/2019
2020/99            26/6/2020 (see F2020L00789)  27/6/2020             -

Endnote 2—Amendment history
ad. = added or inserted     am. = amended     LA = Legislation Act 2003    rep. = repealed     rs. = repealed and substituted
Provision affected   How affected
Section 1            am. 2020/99
Section 2            rep. s48D LA
Subsection 3(b)      rs. 2020/99
Section 4            am. 2020/99
Section 6            rs. 2020/99