Section 912A of the Corporations Act should be amended to require that AFSL holders take reasonable steps to co‑operate with AFCA in its resolution of particular disputes, including, in particular, by making available to AFCA all relevant documents and records relating to issues in dispute.
Government Response
The Government agrees to place an obligation on AFSL holders to take reasonable steps to co‑operate with the Australian Financial Complaints Authority (AFCA) in the resolution of disputes.
It is important that AFSL holders fully co‑operate with AFCA in the resolution of a dispute, including making available to AFCA all relevant documents and records relating to the issues in dispute.