Banking Amendment Regulations 2010 (No. 2)¹

I, MARIE BASHIR, Administrator of the Government of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Banking Act 1959.

Dated 19 July 2010

MARIE BASHIR

Administrator

By Her Excellency’s Command

WAYNE SWAN

1              Name of Regulations

                These Regulations are the Banking Amendment Regulations 2010 (No. 2).

2              Commencement

                These Regulations commence on the commencement of items 1 to 25 of Schedule 1 to the Financial Sector Legislation Amendment (Prudential Refinements and Other Measures) Act 2010.

3              Amendment of Banking Regulations 1966

                Schedule 1 amends the Banking Regulations 1966.

Schedule 1        Amendments

(regulation 3)

[1]           Regulation 4AA, after the heading

insert

         (1)   For subsection 11CA (1C) of the Act, a form of support that is entered into in the normal course of business is not to be considered external support for the purposes of subsection 11CA (1B) of the Act.

[2]           Regulation 4AA

omit

For subsection 13A (1A)

insert

         (2)   For subsection 13A (1A)

[3]           Regulation 4AA

insert

         (3)   For subsection 13E (3) of the Act, a form of support that is entered into in the normal course of business is not to be considered external support for the purposes of paragraph 13E (1) (b) of the Act.

1.       All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See http://www.frli.gov.au.