Commonwealth Consolidated Acts

BANKING ACT 1959 - SECT 11CE

Power to publish notice of directions in Gazette

             (1)  APRA may publish in the Gazette notice of any direction made under Subdivision A or B. The notice must include the name of the ADI or authorised NOHC given the direction and a summary of the direction.

Requirement to publish notice of revocation of certain directions in Gazette

             (2)  If APRA publishes notice of a direction made under Subdivision A or B and then later revokes the direction, APRA must publish in the Gazette notice of that revocation as soon as practicable after the revocation. Failure to publish notice of the revocation does not affect the validity of the revocation.

Requirement to provide information about direction to Treasurer and Reserve Bank

             (3)  If the Treasurer or the Reserve Bank requests APRA to provide information about:

                     (a)  any directions under Subdivision A or B in respect of a particular ADI or authorised NOHC; or

                     (b)  any directions made during a specified period under Subdivision A or B in respect of any ADIs or authorised NOHCs;

APRA must comply with the request.

Power to inform Treasurer and Reserve Bank of direction

             (4)  APRA may provide any information that it considers appropriate to the Treasurer or the Reserve Bank about any directions, or revocations of directions, made under Subdivision A or B, in respect of any ADI or authorised NOHC, at any time.

Requirement to inform Treasurer and Reserve Bank of revocation of direction if informed of making of direction

             (5)  If APRA provides the Treasurer or the Reserve Bank with information about a direction and then later revokes the direction, APRA must notify that person of the revocation of the direction as soon as practicable after the revocation. Failure to notify the person does not affect the validity of the revocation.