ASIC service charter results: 2011-12

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 2011-12 and 2010-11 financial years:

Service

Service charter target

2011-12 performance 
(1 July 11 - 30 June 12)

2010-11 performance 
(1 July 10 - 30 June 11)

General phone queries

ASIC aims to answer telephone queries on the spot

87% of calls answered on the spot (525,741 of 600,889)

13% (75,148) referred to specialist staff

91% of calls answered on the spot (578,084 of 632,379)

9% (54,295) referred to specialist staff

General email queries

ASIC aims to reply to email queries within 2 business days

73% replied to within 2 business days (17,611 of 24,224)

96% replied to within 2 business days (45,168 of 47,264)

General correspondence about our public database and registers, including fee waivers

ASIC aims to acknowledge receipt within 14 days of receiving it, with full response within 28 days

91% replied to within 28 business days (18,719 of 20,629)

95% replied to within 28 days (36,338 of 38,331)

Registering a company

We aim to complete company registrations within 1 business day [1]

98% completed within 1 business day (182,503 of 185,559)

97% of paper forms completed within 1 day (18,357 of 18,905)

98% of electronic forms completed within 1 day (164,146 of 166,654)

98% completed within 1 business day (167,962 of 170,763)

98% of paper forms completed within 1 day (19,501 of 19,987)

98% of electronic forms completed within 1 day (148,461 of 150,776)

Updating company

information and status

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

98% entered within 2 business days (1,053,821 of 1,075,984)

91% of paper forms entered within 2 business days (153,631 of 169,142)

99% of electronic forms entered within 2 business days (900,190 of 906,842)

98% entered within 2 business days (1,082,846 of 1,107,095)

91% of paper forms entered within 2 business days (180,247 of 198,653)

99% of electronic forms entered within 2 business days (902,599 of 908,442)

Registering as an auditor

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

91% registered within 28 days (98 individual applications and 15 authorised audit companies)

91% registered within 28 days (71 individual applications and 19 authorised audit companies)

Registering as a liquidator

We aim to decide whether to register a liquidator or official liquidator within 28 days [2]

92% of liquidator applications decided within 28 days (34 of 37 applications)

95% for official liquidators (35 of 37 applications)

91% of liquidator applications decided within 28 days (31 of 34 applications)

100% for official liquidators (33 of 33 applications)

Applying for or varying an AFS licence

We aim to decide whether to grant or vary an AFS licence within 28 days [2]

85% of licences granted within 28 days (357 of 420 applications)

88% of licence variations decided within 28 days (803 of 917 applications) [3]

83% of licence applications decided within 28 days (355 of 427 applications)

88% of licence variations decided in 28 days (1,368 of 1,557 applications) [3]

Registering a managed

investment scheme

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

100% registered within 14 days (191 of 191)

100% registered in 14 days (240 of 240)

Applying for or varying a credit licence

We aim to decide whether to grant or vary a credit licence within 28 days [2]

90% of all licence applications decided within 28 days (350 of 391)

94% of licence variations decided within 28 days (149 of 159)

70.5% of all licence applications decided within 28 days (4,312 of 6,116)

94% of licence variations decided in 28 days (62 of 66)

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 an in-principle decision within 21 days of receiving all necessary information and fees (target: 70%)

73% of in-principle decisions made within 21 days (1,897 of 2,594 applications) [3]

75% of in-principle decisions made within 21 days 1,958 of 2,623 applications) [3]

Complaints about misconduct by a company or

individual

If someone reports alleged misconduct by a company or an individual, ASIC aims to respond within 28 days of receiving all relevant information (target: 70%) [4]

72% finalised within 28 days (8,954 of 12,516)

78% finalised within 28 days (12,207 of 15,634)

Notes to table:

1. Includes all applications received, regardless of whether applications approved or a company registered.

2. Applications beyond the 28-day target are generally complex ones, requiring, for example, additional policy work or legal review.

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

4. Reports beyond the 28-day target are generally complex ones or ones requiring considerable additional work.

Service charter results 2013-14

Service charter results 2012-13

Service charter results 2010-11

Service charter results 2009-10

Service charter results 2008-09

Service charter results 2007-08

Service charter results 2006-07

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.

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Last updated: 23/10/2020 01:28