Commonwealth Consolidated Acts

CORPORATIONS ACT 2001 - SECT 1052D

  (1)   AFCA may request ASIC to approve a material change to the AFCA scheme.

Note 1:   A material change must not be made to the scheme without ASIC's approval (see paragraph   1051(5)(b)).

Note 2:   This right to make requests extends to any application of the AFCA scheme in relation to members of the scheme that are not providers of financial products or services.

  (2)   ASIC may, by written notice given to AFCA, approve the change.

  (3)   In considering whether to approve the change, ASIC must take into account the following in relation to the scheme as it is proposed to be changed:

  (a)   the mandatory requirements for the scheme under section   1051;

  (b)   the general considerations for the scheme under section   1051A;

  (c)   any conditions imposed by the Minister on the authorisation of the scheme under paragraph   1050(5)(b);

  (d)   any regulatory requirements issued under section   1052A.