SINCE the body corporate has applied for an authority to carry on banking business in Australia,
I, Jane Magill, a delegate of APRA:
This instrument commences on the day it is made.
Dated: 9 January 2025
Jane Magill
General Insurance and Banking Division
APRA means the Australian Prudential Regulation Authority.
banking business and section 9 authority have their respective meanings given in subsection 5(1) of the Act.
Notes
A decision to impose conditions on a section 9 authority is a decision to which Part VI of the Act applies. You may request APRA reconsider the decision in accordance with subsection 51B(1) of the Act. The request for reconsideration must be made in writing, must state the reasons for the request, and must be given to APRA within 21 days after the day on which you first received notice of this decision, or within such further period as APRA allows. If you are dissatisfied with the outcome of APRA’s reconsideration of the decision, you may, subject to the Administrative Review Tribunal Act 2024, apply to the Administrative Review Tribunal for review of the reconsidered decision. The address where written notice may be given to APRA is Level 12, 1 Martin Place, Sydney NSW 2000.
Schedule – conditions on the section 9 authority
The body corporate, as a foreign ADI carrying on banking business in Australia, must not accept deposits or other funds for amounts which are less than $250,000 from any source other than from:
foreign ADI has the meaning given in subsection 5(1) of the Act.