On 21 September, ASIC made ASIC Corporations and Credit (Transition to AFCA) Instrument 2018/814, which was amended by ASIC Credit (Amendment) Instrument 2018/836.

According to the Explanatory Statement, ASIC Corporations and Credit (Transition to AFCA) Instrument 2018/814 is intended to provide transitional relief from the requirement for AFSL holders and ACL holders, corporate authorised representatives and unlicensed carried over instrument lenders to notify ASIC of their AFCA membership details, and extends the statutory notification periods from 10 or 15 days to 30 days (1 November to 30 November 2018).  The purpose of this relief is to support the effective transition to AFCA—by providing additional time to make the requisite notification, but does not affect the obligation to become a member of the AFCA scheme by 21 September 2018.