About the enforceable undertakings register
This information sheet explains enforceable undertakings. It includes information about:
- what enforceable undertakings are
- where you can get a copy of an enforceable undertaking, and
- the enforceable undertakings register.
The enforceable undertakings register lists enforceable undertakings accepted by ASIC under sections 93AA or 93A of the Australian Securities and Investments Commission Act 2001 (ASIC Act) and section 322 of the National Consumer Credit Protection Act 2009 (National Credit Act). For our policy on enforceable undertakings see Regulatory Guide 100 Enforceable undertakings (RG 100) and Regulatory Guide 218 Licensing: Administrative action against persons engaging in credit activities (RG 218).
What are enforceable undertakings?
Enforceable undertakings are undertakings given to us (and accepted by us) which are enforceable in a court. They are generally accepted by us as an alternative to civil or administrative action where there has been a contravention of the legislation we administer.
We may accept an undertaking:
- in connection with a matter in relation to which we have a function or power under the ASIC Act (section 93AA),
- if given by a responsible entity of a registered scheme in connection with a matter concerning the registered scheme, and in relation to which we have a function or power under a national scheme law (section 93A, ASIC Act), or
- in connection with a matter in relation to which we have a function or power under Commonweath credit legislation (section 322, National Credit Act).
How can I get a copy of an enforceable undertaking?
Enforceable undertakings are made public through the enforceable undertakings register and are free of charge. You can get a copy by downloading it as a PDF file from the register on this website.
What information can I get from the enforceable undertakings register?
The register gives you:
- the relevant section/s of the ASIC Act and/or the National Credit Act which allow ASIC to accept the undertaking
- the names of parties giving the undertaking
- a link to the media release about the undertaking
- a document number which acts as a link to the undertaking itself
- the date the undertaking was accepted by us, and
- for some undertakings, information about compliance with the terms of the undertaking.
You can get some background on the undertaking from the relevant media release.
Enforceable undertakings templates
ASIC publishes enforceable undertaking templates to assist people drafting undertakings. These templates are currently being updated by ASIC, and are for guidance only, as the terms of an enforceable undertaking should always be tailored to fit the circumstances of the individual case.
This is Information Sheet 28 (INFO 28), resissued in February 2015. Information sheets provide concise guidance on a specific process or compliance issue or an overview of detailed guidance.