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CORPORATIONS REGULATIONS 2001 - REG 7.9.77

Alternative dispute resolution requirements--product issuer that is not a financial services licensee

             (1)  For subparagraph 1017G(2)(a)(i) of the Act, ASIC must take the following matters into account when considering whether to make or approve standards or requirements relating to internal dispute resolution:

                     (a)  Australian Standard AS ISO 10002-2006 Customer satisfaction--Guidelines for complaints handling in organizations (ISO 10002:2004 MOD) published by SAI Global Limited on 5 April 2006;

                     (b)  any other matter ASIC considers relevant.

             (2)  ASIC may:

                     (a)  vary or revoke a standard or requirement that it has made in relation to an internal dispute resolution procedure; and

                     (b)  vary or revoke the operation of a standard or requirement that it has approved in its application to an internal dispute resolution procedure.

             (3)  For subparagraph 1017G(2)(b)(i) of the Act, ASIC must take the following matters into account when considering whether to approve an external dispute resolution scheme:

                     (a)  the accessibility of the dispute resolution scheme;

                     (b)  the independence of the dispute resolution scheme;

                     (c)  the fairness of the dispute resolution scheme;

                     (d)  the accountability of the dispute resolution scheme;

                     (e)  the efficiency of the dispute resolution scheme;

                      (f)  the effectiveness of the dispute resolution scheme;

                     (g)  any other matter ASIC considers relevant.

             (4)  ASIC may:

                     (a)  specify a period for which an approval of an external dispute resolution scheme is in force; and

                     (b)  make an approval of an external dispute resolution scheme subject to conditions specified in the approval, including conditions relating to the conduct of an independent review of the operation of the scheme; and

                     (c)  vary or revoke:

                              (i)  an approval of an external dispute resolution scheme; or

                             (ii)  the specification of a period for which an approval is in force; or

                            (iii)  a condition to which an approval of an external dispute resolution scheme is subject.



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