AFCA Scheme Authorisation 2018 (Cth)

AFCA Scheme Authorisation 2018 made under the Corporations Act 2001

Compilation No. 03

Compilation date: 1 February 2024

Includes amendments up to: AFCA Scheme Amendment (2024 Measures No. 1) Authorisation 2024

Prepared by The Treasury About this compilation

This compilation

This is a compilation of the AFCA Scheme Authorisation 2018 that shows the text of the law as amended and in force on 1 February 2024 (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. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.

Application, saving and transitional provisions for provisions and amendments

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. For more information on any modifications, see the Register for the compiled law.

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If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.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 1 Name 3 Authority 4 Definitions 5 Authorisation of an external dispute resolution scheme as the AFCA scheme 6 Condition on authorisation – report to Minister about decisions to vary fees 7 Condition on authorisation – must seek recognition of the Australian Information Commissioner 8 Condition on authorisation – membership of the scheme is open to existing members of FOS and CIO 9 Additional condition 9A Condition on authorisationexternal dispute resolution complaint not to be decided in certain circumstances 10 COVID-19 economic response—guarantee of lending to small and medium enterprises 11 COVID-19 economic response—deferral of loan repayments Endnotes Endnote 1—About the endnotes Endnote 2—Abbreviation key Endnote 3—Legislation history Endnote 4—Amendment history