The new, single external dispute resolution and complaints framework scheme "will be established by industry as a company limited by guarantee" the Australian government made clear yesterday.The government, in essence, is moving to implement the Ramsay Review in full. Those recommendations included the establishment of a one-stop shop for all financial disputes, including superannuation disputes.The Australian Financial Complaints Authority will roll up the Financial Ombudsman Service, the Credit and Investments Ombudsman and the Superannuation Complaints Tribunal.The aim is to have AFCA operational by 1 July 2018.Membership will be compulsory for all financial firms, the Treasury made clear yesterday. Treasury released the draft bill of the laws intended to foster the new framework along with a consultation paper."In order to ensure that its decisions are binding, financial firms providing services to retail clients, as well as regulated superannuation funds (other than self-managed superannuation funds) and approved deposit funds, will be required to be members of the single EDR scheme as a condition of one or more of their licences and be contractually bound to comply with its rules," Treasury said.Once the new body is operational, all new complaints will be heard by AFCA. It is proposed that all remaining complaints that are lodged with the FOS/CIO prior to this date will be dealt with by the CIO/FOS. The new scheme "will operate under a co-regulatory framework," Treasury said."This means that while the AFCA board will make its own decisions regarding funding, staffing and dispute resolution processes, it must comply with legislative and regulatory requirements, as set by Government and ASIC," it said.