{"id":"F2010L00802","name":"ASIC Class Order [CO 10/249]","slug":"asic-class-order-co-10-249","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":124013,"registerId":"commonwealth-F2010L00802-current","compilationNumber":null,"startDate":"2026-04-03","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Enabling legislation","sectionType":"subdivision","heading":"Enabling legislation","content":"#### Enabling legislation\n\n1\\. The Australian Securities and Investments Commission (ASIC) makes this instrument for the purposes of paragraph 11(1)(a) of the National Consumer Credit Protection Act 2009.","sortOrder":0},{"sectionNumber":"Title","sectionType":"subdivision","heading":"Title","content":"#### Title\n\n2\\. This instrument is ASIC Class Order \\[CO 10/249\\].\n\nCommencement\n\n3\\. This instrument commences on the later of:\n\n(a) the date it is registered under the Legislative Instruments Act 2003; and\n\n(b) 1 April 2010.\n\nNote: 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/.","sortOrder":1},{"sectionNumber":"Approval","sectionType":"part","heading":"Approval","content":"# Approval\n\n4. ASIC approves the external dispute resolution schemes operated by, and which cover the members of, the following:\n\n(a) Financial Ombudsman Service Limited ACN 131 124 448;\n\n(b) Credit Ombudsman Service Limited ACN 104 961 882.\n\nDated this 1st day of April 2010\n\nSigned by Stephen Yen PSM","sortOrder":2},{"sectionNumber":"as a delegate of the Australian Securiti","sectionType":"part","heading":"as a delegate of the Australian Securities and Investments Commission","content":"# as a delegate of the Australian Securities and Investments Commission","sortOrder":3}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1751},"content_quality":"ok","complexity_score":1,"scope_assessment":{"changed":false,"description":"The instrument remains focused on its original purpose of approving specific external dispute resolution schemes under the National Consumer Credit Protection Act 2009."},"complexity_factors":["Only 4 operative sections","Single approval provision with no conditions or limitations","No defined terms or interpretation section","No cross-references to other legislative provisions (except enabling Act citation)","No exceptions, sunset clauses, or conditional logic"],"plain_english_summary":"This instrument gives official approval to two external dispute resolution (EDR) schemes that handle complaints between consumers and credit providers.\n\n**What it does**\nASIC officially approves:\n- The Financial Ombudsman Service Limited\n- The Credit Ombudsman Service Limited\n\n**Who it affects**\n- **Consumers** who have disputes with banks, lenders, or other credit providers\n- **Credit providers** who must belong to an approved dispute resolution scheme under national consumer credit law\n\n**Why it matters**\nUnder the National Consumer Credit Protection Act, credit providers must be members of an ASIC-approved external dispute resolution scheme. This approval authorises these two services as official channels where consumers can escalate complaints for free, independent resolution if they cannot resolve them directly with their lender."}},"importantCases":[],"_links":{"self":"/api/acts/asic-class-order-co-10-249","history":"/api/acts/asic-class-order-co-10-249/history","analysis":"/api/acts/asic-class-order-co-10-249/analysis","conflicts":"/api/acts/asic-class-order-co-10-249/conflicts","importantCases":"/api/acts/asic-class-order-co-10-249/important-cases","documents":"/api/acts/asic-class-order-co-10-249/documents"}}