AFCA has updated its constitution to reflect the amendments agreed to by members and the AFCA Board at AFCA’s Annual General Meeting on 24 November 2022. 

These updates include: 

• A new clause allowing AFCA to hold general meetings as virtual meetings, consistent with the Corporations Act provisions.  
• Updated notice provisions to be in line with new provisions of the Corporations Act introduced by the Amending Act under which documents, such as notices of meetings, can be given by posting or emailing a URL link which gives access to the document, rather than posting or emailing the document directly. 
• Removal of provisions concerning initial transitional arrangements for membership of AFCA, the composition of AFCA’s Board and the previous name of AFCA. 
• Removal of the prohibition on the Board delegating authority to appoint decision makers. 
• Removal of the mandated requirement for AFCA to hold particular indemnity insurance. 
• A clearer and more accurate outline of the the consultation process and requirements followed by AFCA when either new Rules or material Rules amendments are being made. 
• Clarification that the terms and conditions applicable to particular AFCA members may be amended from time to time and that breach of those terms and conditions may be grounds for expulsion as an AFCA member, as part of the existing expulsion provisions in the constitution. 
• Consistent wording in the provisions relating to the stakeholder engagement process followed in relation to the appointment of board members.  
• Changing the Chair’s notice period from one month to three months to facilitate any transition to the appointment of a new Chair. 
• Other minor and non-consequential changes, such as formatting, typographical, numbering and syntax amendments. 

The updated constitution can be found on the AFCA website here.  

About the AFCA constitution  

The AFCA Constitution outlines the purpose and objectives of the Australian Financial Complaints Authority Limited, including how our complaint resolution Rules and processes are developed, agreed and implemented. It also outlines our membership arrangements, Board arrangements and Director appointments, powers and duties.