Applying for CIO membership

 



Australian Credit Licence (ACL)

A person, partnership or company engaging or wishing to engage in credit activities is required to have or apply for an ACL issued by the Australian Securities and Investments Commission (ASIC), unless they are authorised by a licensee to engage in the credit activities on their behalf.  
 
As a condition of the ACL, the licensee is required to join and maintain membership of an ASIC-approved external dispute resolution (EDR) scheme, such as CIO.
 
CIO membership fees are determined by the nature of the applicant's business operations. Annual membership fees start at $375 (inclusive of GST). This fee covers one of the applicant's directors or employees who engages in credit activities on behalf of the applicant. A one-off application fee of $190 (inclusive of GST) is also payable. If you have additional directors or employees engaging in credit activities on your behalf or if you have appointed other persons to engage in credit activities on your behalf, an additional fee of $100 (inclusive of GST) is payable for each representative. 
 
The membership fees for other types of businesses, such as lenders, mortgage managers, aggregators, securitisers, etc can be found in our membership application form
 
If you have any questions about completing the membership application or if we can be of any assistance, please contact the CIO Membership Office on (02) 9273 8455 or email members@cio.org.au.

Licensee Application [PDF]

Credit Representatives

A person, partnership or company engaging or wishing to engage in credit activities as a representative of a licensee, must be authorised by the licensee to engage in specified credit activities on behalf of the licensee.  
 
As a condition of the authorisation, the representative is required to join and maintain membership of an ASIC-approved external dispute resolution (EDR) scheme, such as CIO.
 
The annual membership fee for a credit representative is $135 (inclusive of GST).  
 
If you have any questions about completing the membership application or if we can be of any assistance, please contact the CIO Membership Office on (02) 9273 8455 or email members@cio.org.au.

Credit Representatives Application [PDF]

 

Australian Financial Services Licence (AFSL)

A person, partnership or company conducting or wishing to conduct a financial services business is required to have or apply for an AFS licence issued by the Australian Securities and Investments Commission (ASIC).  
 
As a condition of the AFS licence, the licensee is required to join and maintain membership of an ASIC-approved external dispute resolution (EDR) scheme, such as CIO.
 
CIO membership fees are determined by the nature of the applicant's business operations. Annual membership fees start at $375 (inclusive of GST). This fee covers one of the applicant's directors or employees who conducts a financial services business on behalf of the applicant. A one-off application fee of $190 is also payable. 
 
If you have additional directors or employees conducting a financial services business on your behalf or if you have authorised other persons to a conduct a financial services business on your behalf, an additional fee of $100 (inclusive of GST) is payable for each representative. 
 
If you have any questions about completing the membership application or if we can be of any assistance, please contact the CIO Membership Office on (02) 9273 8455 or email members@cio.org.au.
 

Licensee Application [PDF]


Limited Australian Financial Services Licence  (AFSL)  

From 1 July 2016, recognised accountants wishing to give or continue to give advice about self-managed superannuation funds (SMSFs) will need to obtain a ‘limited’ AFSL issued by the Australian Securities and Investments Commission (ASIC). Any person can apply for a limited AFS licence (i.e. not only recognised accountants).
 
If the licensee gives advice to retail clients, as a condition of the limited AFS licence, the licensee is required to join and maintain membership of an ASIC-approved external dispute resolution (EDR) scheme, such as CIO.
 
No annual membership fee is payable until 1 July 2017. Further, the application fee will also be waived until 1  July 2017.
 
CIO's annual membership for limited AFS licensees includes up to 5 representatives.
 
If you have any questions about completing the membership application or if we can be of any assistance, please contact the CIO Membership Office on (02) 9273 8455 or email members@cio.org.au.
 

Limited AFS Licensee Application [PDF]
 


Privacy Act Participants

Under the Privacy Act 1988, 'credit providers' are required to be a member of an external dispute resolution (EDR) scheme recognised by the Office of the Australian Information Commission (OAIC), such as CIO, before they are permitted to disclose credit information about an individual to a credit reporting body or otherwise participate in the consumer credit reporting system.
  
The definition of ‘credit provider’ under the Act is broad and includes an organisation or small business (the supplier) that carries on a business in the course of which the supplier defers payment for goods or services for at least 7 days. 
 
This will include store card issuers and trade creditors, but does not include commercial credit providers.
 
If you have any questions about completing the membership application or if we can be of any assistance, please contact the CIO Membership Office on (02) 9273 8455 or email members@cio.org.au.
 

Privacy Act Participant Application [PDF]


Other financial services providers 

CIO also offers EDR membership to: 
 
  1. credit providers who are not required to be a member of an EDR scheme because they only offer commercial credit, and 
     
  2. any other person, partnership or company who provides a financial service within the definition of CIO's Rules (eg. a commercial lender, commercial broker) but is not required by law to be a member of an EDR scheme.
 
If you have any questions about EDR membership, please contact the CIO Membership Office on (02) 9273 8455 or email members@cio.org.au.
 
Other Financial Services Application [PDF]