Credit relief

ASIC may grant relief from various provisions of the credit legislation by making individual instruments, or legislative instruments (previously known as class orders) which have a wider application.

Individual instruments and legislative instruments made under the credit legislation are not published in the ASIC Gazette.

Relief under the credit legislation

Applying for individual relief

Getting copies of credit instrumentsGetting copies of legislative instruments

Individual instruments made under the credit legislation (including section 203A of the Credit Code) are published on the ASIC website. Specified exclusions made under subsections 6(14) and 171(4) of the Credit Code are not published on the ASIC website and are not available to the public.

See credit instruments:

2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018

Legislative instruments (previously known as class orders) made under the credit legislation are registered on the Federal Register of Legislation (FRL). The FRL may be accessed at

ASIC also publishes the text of certain legislative instruments on the ASIC website for the purposes of paragraphs 109(6)(a) and 163(6)(a) of the National Consumer Credit Protection Act 2009 and for the purposes of paragraph 41(6)(a) of Schedule 2 to the National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009. The text of these legislative instruments can be downloaded as PDF files.

See legislative instruments:

2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018

Relief under the credit legislation

ASIC may give relief from:

  • the licensing provisions under Chapter 2 of the Credit Act
  • the responsible lending conduct provisions under Chapter 3 of the Credit Act
  • the provisions of the Credit Code.

ASIC gives relief by way of individual instruments and legislative instruments.

Individual instruments are made in response to an application by a person (see Applying for individual relief below).

Legislative instruments apply to a class of persons or contracts and are generally made by ASIC of its own initiative. These instruments are sometimes also made in response to an application by a person or an industry association where ASIC forms the view that the relief ought to apply more broadly.

Applying for individual relief

When applying for individual relief from the credit legislation, make sure you:

1. Apply early

If you’re thinking of applying for relief from the credit legislation, you should apply as early as possible. Applications for relief often raise issues that may take some time to resolve.

2. Apply in writing

You should apply in writing, addressing the criteria in Regulatory Guide 51 Application for relief (RG 51)

3. Address the criteria in our policies on relief

You should specifically address the criteria set out in our policies on relief.

For example, in your application you should particularly address the commercial benefit and any net regulatory benefit or detriment from granting the relief you seek. If you think you have special circumstances or you are disproportionately affected by the credit legislation, clearly set out your reasons.

4. Lodge your application electronically

The quickest way to have your application considered and our preferred method of lodgement is to email the written application and any attachments to Then send the paper copy and the fee to:

Manager – Applications
Australian Securities & Investments Commission
GPO Box 9827 in your capital city

Alternatively send your written application and cheque to us at the above address.

How ASIC charges fees for credit relief applications

Summary reports of ASIC relief applications

What's new

ASIC review finds unacceptable delays by financial institutions in reporting, addressing and remediating significant breaches

ASIC has identified serious, unacceptable delays in the time taken to identify, report and correct significant breaches of the law among Australia's most important financial institutions.  18-284MR. 25 September.

Financial firms must join AFCA now

ASIC warns all Australian financial services licensees, Australian credit licensees, authorised credit representatives and superannuation trustees that they must join the Australian Financial Complaints Authority (AFCA) now if they have not already done so. 18-275MR. 20 September

ASIC prescribes three-year period for credit card responsible lending assessments

Following consultation, ASIC has set a three-year period to be used by banks and credit providers when assessing a new credit card contract or credit limit increase for consumers. 18-257MR, 5 September

Latest credit releases

Last updated: 20/10/2014 12:00