ASIC service charter results

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.
 
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Service charter results

Below are our performance results for the 2015-16 financial year:

When you contact us

ServiceService charter target2015-16
General phone queries

We aim to answer telephone queries on the spot (target: 80%)

91.1% of calls answered
on the spot

General email queries

We aim to reply to email queries [1] within
three business days (target: 90%)

99.8% replied to in
three business days

When you access our registers

ServiceService charter target2015-16
Searching company, business name or other data online

We aim to ensure our online search
service is available in standard business
hours (target: 99.5%)

99.9% available in standard
business hours

Lodging company,
business name or other
data online

We aim to ensure you can lodge
registration forms and other information
online in standard business hours (target: 99.5%)

99.9% lodged in standard
business hours

When you do business with us 

ServiceService charter target2015-16

Registering a company or
business name online

We aim to register the company or business name within one business day of receiving a complete application (target: 90%) [2]

97.8% registered within
one business day

Registering a company
via paper application

We aim to register the company within two business days of receiving a complete application (target: 90%)

98.4% registered within
two business days 

Registering a business
name via paper
application

We aim to register the business name within seven business days of receiving a complete application (target: 90%)

100.0% registered within
seven business days 

Updating company,
business name or
other ASIC register
information online

We aim to enter critical information and status changes to the company and business name registers within one business day (target: 90%)

99.5% updated within
one business day

Updating company,
business name or other
ASIC register information
via paper application

We aim to enter critical information and status changes to company
and business name registers within five business days (target: 90%)

95.8% updated within five
business days

Registering as an auditor

We aim to decide whether to register an auditor within 28 days of receiving a complete application (target: 80%) [4]

56% registered within 28 days [3]
Registering as a liquidator

We aim to decide whether to register
a liquidator or official liquidator within
28 days (target: 80%) [4]

93% of liquidator applications
decided within 28 days.
100% of official liquidator
applications decided within
28 days

Registering a managed investment scheme

By law we must register a managed investment scheme within 14 days of receiving a complete application, except in certain circumstances (target: 100%)

100% registered within 14 days 
Applying for or varying an AFS licence

We aim to decide whether to grant or vary an AFS licence within 35 days (target: 70%) and within 120 days (target: 90%) [5]

52% of licences granted
within 60 days.[6] 62% of licence
variations decided in 60 days.
82% of licences granted within
120 days. [6] 79% of licence
variations decided in 120 days

Applying for or varying an Australian credit licence

We aim to decide whether to grant or vary a credit licence within 35 days (target: 70%) and within 120 days (target: 90%)[5]

80% of licences granted
within 60 days. 90% of licence
variations decided in 60 days.
89% of licences granted within
120 days. 93% of licence
variations decided in 120 days

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 28 days of receiving all necessary information and fees (target: 74%) and within 90 days (target: 90%) [7]

78% of in-principle decisions
made within 28 days. 94% of
in‑principle decisions made
within 90 days

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%)

68% finalised within 28 days

When you contact us

ServiceService charter target2015-16

About ASIC officers, services or actions

We aim to acknowledge receipt of complaints within three working days of receipt. We aim to resolve a complaint within 28 days (target 70%)

92%resolved within 28 days

Notes to table:

Note 1. Email queries lodged via the ‘Ask us a question’ webmail facility on ASIC’s website.
Note 2. Includes all applications received, regardless of whether applications approved or a company registered.
Note 3.Performance against this measure was impacted by the transition period for registration of SMSF auditors.
Note 4. Applications beyond the 28-day target are generally complex ones, requiring, for example, additional policy work or legal review.
Note 5. Applications beyond the 60-day target are generally complex ones, requiring considerable additional work although a greater regulatory focus on problematic applications has affected this.
Note 6. Performance against this measure was impacted by ASIC’s resourcing and a greater focus on regulatory concerns in applications and the increase in licence applications as a result of the expiry in June 2016 of the transition period for accountants’ limited licences. These licence applications will continue to impact these measures in 2016–17. We are reviewing our service charter in terms of sustainable target levels with current resources.
Note 7. This result includes applications, including those where we did not initially receive all the information we needed to make a decision.

Service charter results 2014-15

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

Service charter results 2006-07

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Last updated: 31/10/2016 01:50