Discussion Paper

Previous Page | Table of Contents | Next Page

Glossary of Abbreviations and Terms

The Act: Financial Service Providers (Registration and Dispute Resolution) Act 2008.

ASIC: The Australian Securities and Investment Commission. Under the Corporations Act 2001 (Australia), ASIC has an equivalent function to the Minister of Consumer Affairs in approving consumer dispute resolution schemes in the financial sector.

Benchmarks/ Benchmark Principles/Australian Benchmarks: Benchmarks for Industry-based Customer Dispute Resolution Schemes, released in 1997 by the Consumer Affairs Division of the Department of Industry, Science and Tourism. The benchmarks are directly incorporated into section 52(2) of the Financial Service Providers (Registration and Dispute Resolution) Act 2008.

Dispute resolution service provider/service provider: The entity providing the dispute resolution service.

Financial Service Providers Act: Abbreviated reference to the Financial Service Providers (Registration and Dispute Resolution) Act 2008.

FSP: Financial Service Provider.

MCA/ the Ministry: Ministry of Consumer Affairs.

Member: A financial service provider that is a member of the reserve scheme.

The Minister: Unless otherwise specified, the Minister of Consumer Affairs.

The Reserve Scheme: The financial service providers reserve dispute resolution scheme.

Previous Page | Table of Contents | Next Page

Home | Useful Links | Contact Us | Site Map | Search | Access Keys | News | Media Centre Publications | About Us | Consumer Info | Business Info SCAMwatch | Product Safety | Measurement | Policy, Law & Research | Education Disclaimer Privacy and Copyright Statement This site uses cookies to track and analyse usage.