ASIC service charter results: 2006-07

The ASIC service charter sets out the most common interactions we have with you and how quickly you can expect us to respond to your phone calls, complaints, requests or applications.

We will continue to report on our service charter results each year.

Service charter results

Below are our performance results for the 2006-07 financial year:

Service

Service charter target

2006-07 performance
(1 July 06 - 30 June 07)

General phone queries

We aim to answer your telephone queries on the spot

94% of calls answered on the spot (630,856 of 670,755
5.9% (39,899 calls) referred to specialist staff

General email queries

We aim to reply within 2 business days to queries sent to www.asic.gov.au/question.

80% replied to in 2 business days (23,091 of 29,057)

General correspondence

We aim to acknowledge receipt of general correspondence within 14 days of receiving it, and give a full response within 28 days:

General correspondence to Public Information Program about our public database and registers, including fee waivers

95% fully responded to within 28 days (52,796 of 55,734)

Correspondence received by our Correspondence Control Unit

100% acknowledged within 14 days (656 letters)

71% responded to within 28 days (470 of 661 letters)

Registering a company

We aim to complete company incorporations within 1 business day of receiving a complete application

97% in total (156,522 of 161,673)

86.7% of paper forms completed in 1 day (21,959 of 25,320)

98.7% of electronic forms completed in 1 day (134,563 of 136,353)

Updating company information and status

We aim to enter critical changes to company information in the corporate register within 2 business days

92% (960,636 of 1,050,260)

71.5% of paper forms (214,296 of 299,908) in 2 business days

99.5% of electronic forms entered in 2 business days (746,340 of 750,352)

Registering as an auditor

We aim to decide whether to register a person as an auditor within 28 days of receiving a complete application

100% registered within 28 days (112 individual applications and 18 authorised audit companies)

Registering as a liquidator

We aim to decide whether to register a person as a liquidator or official liquidator within 28 days of receiving a complete application

Liquidators:
83% decided within 28 days (15 of 18 applications)

Official liquidators: 
83% decided within 28 days (24 of 29 applications)

Registering a managed investment scheme

By law, we must register a managed investment scheme within 14 days of receiving a complete application

95% registered in 14 days (583 of 616)

Applying for or varying an AFS licence

We aim to decide whether to grant or vary an Australian financial services licence within 28 days of receiving a complete application

Granting a licence: 
65% decided in 28 days (310 of 474 applications)

Varying a licence:
71% decided in 28 days (503 of 709 applications)

This result is for all applications, including those where we did not initially receive all the information we needed to make a decision

Applying for an Australian market licence

We aim to give the Minister our recommendation about simple applications to operate financial markets within 12 weeks of receiving an application

100% to Minister within 12 weeks (3 applications)

Applying for relief

If you lodge an application for relief from the Corporations Act that does not raise new policy issues, we aim to give you an in principle decision within 21 days of receiving all necessary information and fees

74% of in principle decisions made within 21 days (2278 of 3062 applications).

This result is for all applications, including those where we did not initially receive all the information we needed to make a decision

Complaints about misconduct by a company or individual

If you make a complaint about the activities of a company or individual, we aim to respond to you within 28 days of receiving all relevant information

81% finalised within 28 days (8,620 of 10,681)

Service charter results 2013-14

Service charter results 2012-13

Service charter results 2011-12

Service charter results 2010-11

Service charter results 2009-10

Service charter results 2008-09

Service charter results 2007-08

ASIC industry funding

Cost Recovery Implementation Statement 2019-20

12 June 2020

A consultation version of the Cost Recovery Implementation Statement 2019-20 (CRIS)  has been released.

Read the draft CRIS

Industry funding: what you need to know

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More about industry funding

Last updated: 23/10/2020 01:28