{"id":"F2019L01274","name":"ASIC Corporations, Credit and Superannuation (Internal Dispute Resolution—Transitional) Instrument 2019/965","slug":"asic-corporations-credit-and-superannuation-internal-dispute-resolution-transitional-instrument-2019","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":99855,"registerId":"commonwealth-F2019L01274-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Corporations, Credit and Superannuation (Internal Dispute Resolution—Transitional) Instrument 2019/965","content":"![Commonwealth Coat of Arms and ASIC logo](image.001.png)\n\nASIC Corporations, Credit and Superannuation (Internal Dispute Resolution—Transitional) Instrument 2019/965\n\nAbout this compilation\n\nCompilation No. 1\n\nThis is a compilation of ASIC Corporations, Credit and Superannuation (Internal Dispute Resolution—Transitional) Instrument 2019/965 as in force on 27 June 2020. It includes any commenced amendment affecting the legislative instrument to that date.\n\nThis compilation was prepared by the Australian Securities and Investments Commission.\n\nThe notes at the end of this compilation (the endnotes) include information\n\nabout amending instruments and the amendment history of each amended provision.\n\nContents\n\n[Part 1—Preliminary](#_Toc44403142)\n\n[1 Name of legislative instrument](#_Toc44403143)\n\n[3 Authority](#_Toc44403144)\n\n[4 Definitions](#_Toc44403145)\n\n[Part 2—Approval](#_Toc44403146)\n\n[5 Standards and requirements](#_Toc44403147)\n\n[Part 3—Application](#_Toc44403148)\n\n[6 Transitional](#_Toc44403149)\n\n[Endnotes](#_Toc44403150)\n\n[Endnote 1—Instrument history](#_Toc44403151)\n\n[Endnote 2—Amendment history](#_Toc44403152)\n\nPart 1—Preliminary\n\n1 Name of legislative instrument\n\nThis is the ASIC Corporations, Credit and Superannuation (Internal Dispute Resolution—Transitional) Instrument 2019/965.\n\n3 Authority\n\nThis instrument is made under:\n\n(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\n\n(b) subsection 12A(6) of the Australian Securities and Investments Commission Act 2001 for the purposes of:\n\n    (i) paragraph 47(1)(b) of the Retirement Savings Accounts Act 1997;\n    (ii) paragraph 101(1)(b) of the Superannuation Industry (Supervision) Act 1993;\n    (iii) subparagraph 47(1)(h)(i) of the National Consumer Credit Protection Act 2009;\n    (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.\n\n4 Definitions\n\nIn this instrument:\n\nAFCA scheme means the external dispute resolution scheme for which an authorisation under Part 7.10A of the Corporations Act 2001 is in force.\n\napproved deposit fund has the same meaning as in the SIS Act.\n\nAS ISO 10002—2006 means Australian Standard AS ISO 10002—2006 known as Customer Satisfaction—Guidelines for complaints handling in organizations published by Standards Australia as in force as at 5 April 2006.\n\nCorporations Act means the Corporations Act 2001.\n\nCredit Act means the National Consumer Credit Protection Act 2009.\n\ncredit licensee means a person who holds an Australian credit licence.\n\nfinancial firm means:\n\n(a) a financial services licensee;\n\n(b) a person to whom section 1017G of the Corporations Act applies;\n\n(c) a credit licensee;\n\n(d) an unlicensed carried over instrument lender;\n\n(e) a trustee of a regulated superannuation fund or of an approved deposit fund;\n\n(f) an RSA provider.\n\nfinancial services licensee means a person who holds an Australian financial services licence.\n\nregulated superannuation fund has the same meaning as in the SIS Act.\n\nRSA Act means the Retirement Savings Account Act 1997.\n\nRSA provider has the same meaning as in the RSA Act.\n\nunlicensed 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.\n\nPart 2—Approval\n\n5 Standards and requirements\n\nASIC approves the following standards and requirements in relation to an internal dispute resolution procedure:\n\n(a) the procedure covers a “complaint” as defined in AS ISO 10002—2006;\n\n(b) the “Guiding principles” in section 4 of AS ISO 10002—2006;\n\n(c) the following sections of AS ISO 10002—2006:\n\n(i) section 5.1—Commitment;\n\n(ii) section 6.4—Resources;\n\n(iii) section 8.1—Collection of Information;\n\n(iv) section 8.2—Analysis and evaluation of complaints;\n\n(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;\n\n(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.\n\nPart 3—Application\n\n6 Transitional\n\nThis instrument applies in relation to a complaint received before 5 October 2021 by a financial firm.\n\n  \n\nEndnotes\n\nEndnote 1—Instrument history\n\n| Instrument number | Date of FRL registration    | Date of commencement | Application, saving or transitional provisions |\n| ----------------- | --------------------------- | -------------------- | ---------------------------------------------- |\n| 2019/965          | 26/9/2019 (see F2019L01274) | 27/9/2019            |                                                |\n| 2020/99           | 26/6/2020 (see F2020L00789) | 27/6/2020            | -                                              |\n\nEndnote 2—Amendment history\n\n> Note: ad. = added or inserted am. = amended LA = Legislation Act 2003 rep. = repealed rs. = repealed and substituted\n\n| Provision affected | How affected |\n| ------------------ | ------------ |\n| Section 1          | am. 2020/99  |\n| Section 2          | rep. s48D LA |\n| Subsection 3(b)    | rs. 2020/99  |\n| Section 4          | am. 2020/99  |\n| Section 6          | rs. 2020/99  |","sortOrder":0}],"analysis":{"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":true,"description":"The instrument has been amended since registration. Endnote 2 records amendments to the name, definitions and the transitional provision; notably section 6 (transitional application) was replaced and section 4 (definitions) was amended. Those changes adjusted which entities and time‑period are covered and how terms are read against related legislation (Endnote 2; s4; s6)."},"complexity_factors":["Short, focused instrument but relies on external standard AS ISO 10002—2006 (s5) creating interpretive reliance on a non-legislative text.","Cross-references to multiple principal Acts for authority and coverage (Corporations Act, ASIC Act, SIS Act, Credit Act, RSA Act) increase linkage complexity (s3, definitions).","Multiple categories of 'financial firm' defined, producing conditional obligations (e.g. unlicensed carried over instrument lenders treated differently) (definitions; s5(d)-(e)).","Transitional timing element limits application to complaints received before a fixed date, requiring temporal application checks by firms (s6).","Amendment history and notional insertions referenced in definitions (endnotes; definitions) require attention to legislative drafting and regulation cross‑references."],"plain_english_summary":"This instrument formally approves parts of the Australian Standard AS ISO 10002—2006 as the required internal dispute‑resolution (IDR) approach for a range of financial firms, and it applies to complaints received before 5 October 2021 (see s5, s6). It affects financial services licensees, credit licensees, trustees of regulated superannuation and approved deposit funds, RSA providers and certain unlicensed carried‑over instrument lenders, who must align IDR procedures with the listed ISO sections and, in most cases, inform complainants about AFCA (s5)."},"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"kimi_summary":{"content_quality":"ok","complexity_score":3,"scope_assessment":{"changed":false,"description":"This instrument maintains its original limited transitional purpose. It was designed to apply temporarily to complaints received before 5 October 2019 (later extended to 5 October 2021 by amendment 2020/99), bridging to new permanent internal dispute resolution requirements. The 2020 amendment extended the temporal scope slightly but did not expand the substantive scope beyond the original transitional intent."},"complexity_factors":["Short length (6 operative sections plus definitions)","Minimal conditional logic (primarily in section 5(d)-(e) distinguishing unlicensed carried over instrument lenders)","11 defined terms in section 4, most referencing other Acts rather than creating new complex definitions","Single cross-reference to external standard (AS ISO 10002—2006) rather than extensive internal cross-referencing","Simple temporal limitation (pre-5 October 2021 complaints) without nested exceptions","Straightforward structure: preliminary, approval, application"],"plain_english_summary":"This temporary instrument required financial firms (licensees, super/RSA providers and certain transitional lenders) to follow specified parts of AS ISO 10002—2006 for internal dispute resolution and to inform complainants about the AFCA external dispute scheme. It applied only to complaints received before 5 October 2021, ensuring consistent protections during the regulatory transition."}},"importantCases":[],"_links":{"self":"/api/acts/asic-corporations-credit-and-superannuation-internal-dispute-resolution-transitional-instrument-2019","history":"/api/acts/asic-corporations-credit-and-superannuation-internal-dispute-resolution-transitional-instrument-2019/history","analysis":"/api/acts/asic-corporations-credit-and-superannuation-internal-dispute-resolution-transitional-instrument-2019/analysis","conflicts":"/api/acts/asic-corporations-credit-and-superannuation-internal-dispute-resolution-transitional-instrument-2019/conflicts","importantCases":"/api/acts/asic-corporations-credit-and-superannuation-internal-dispute-resolution-transitional-instrument-2019/important-cases","documents":"/api/acts/asic-corporations-credit-and-superannuation-internal-dispute-resolution-transitional-instrument-2019/documents"}}