{"id":"F2019L00878","name":"ASIC Corporations (Approval of Banking Code of Practice) Instrument 2019/663","slug":"asic-corporations-approval-of-banking-code-of-practice-instrument-2019-663","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":440144,"registerId":"F2019L00878-fast-fetch-1775955889654","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Corporations (Approval of Banking Code of Practice) Instrument 2019/663","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\n---\n\n![Commonwealth Coat of Arms and ASIC logo](image.001.jpeg)\n\nASIC Corporations (Approval of Banking Code of Practice) Instrument 2019/663\n\nI, Michael Saadat, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.\n\n \n\nDate: 25 June 2019\n\n \n\n \n\nMichael Saadat\n\n \n\nContents\n\n[Part 1—Preliminary](#_Toc12345612)\n\n[1 Name of legislative instrument](#_Toc12345613)\n\n[2 Commencement](#_Toc12345614)\n\n[3 Authority](#_Toc12345615)\n\n[4 Definitions](#_Toc12345616)\n\n[Part 2—Approval](#_Toc12345617)\n\n[5 Approval of 2019 Banking Code of Practice](#_Toc12345618)\n\n \n\nPart 1—Preliminary\n\n1 Name of legislative instrument\n\nThis is the ASIC Corporations (Approval of Banking Code of Practice) Instrument 2019/663.\n\n2 Commencement\n\nThis instrument commences the same day as the ASIC Corporations (Banking Code of Practice – Revocation of 2018 Approval) Instrument 2019/662.\n\nNote: The Federal Register of Legislation may be accessed at [www.legislation.gov.au](http://www.legislation.gov.au).\n\n3 Authority\n\nThis instrument is made under subsection 1101A(1) of the Corporations Act 2001.\n\n4 Definitions\n\nIn this instrument:\n\n2019 Banking Code of Practice means the Banking Code of Practice, published on 24 June 2019 by the Australian Banking Association Incorporated (ABN 60 117 262 978).\n\nPart 2—Approval\n\n5 Approval of 2019 Banking Code of Practice\n\nThe 2019 Banking Code of Practice is approved.\n","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1661},"content_quality":"ok","complexity_score":1,"scope_assessment":{"changed":false,"description":"The instrument performs exactly the single function stated in its title: approving the 2019 Banking Code of Practice. It has not expanded beyond this purpose."},"complexity_factors":["Only 1 defined term","No conditional clauses or exceptions","Single substantive provision (section 5)","No cross-references to other legislation except the enabling section","Extremely short (5 sections total)"],"plain_english_summary":"This instrument formally approves the **2019 Banking Code of Practice** — a set of rules that banks promise to follow when dealing with everyday customers and small businesses.\n\n**What it does**\n- Gives official legal backing to the Banking Code of Practice under the Corporations Act 2001.\n- Once approved, banks that subscribe to the code must stick to its rules, which cover things like fair treatment, helping customers in financial hardship, and handling complaints quickly.\n\n**Who it affects**\n- **Banks** that are members of the Australian Banking Association (most major banks).\n- **Customers** — particularly consumers and small businesses — who get extra protections and clearer standards of service.\n\n**Why it matters**\nWithout this approval, the code would just be a voluntary promise. ASIC's approval means the code has regulatory teeth — if a bank breaks the rules, it can face consequences under corporations law, not just bad publicity."}},"importantCases":[],"_links":{"self":"/api/acts/asic-corporations-approval-of-banking-code-of-practice-instrument-2019-663","history":"/api/acts/asic-corporations-approval-of-banking-code-of-practice-instrument-2019-663/history","analysis":"/api/acts/asic-corporations-approval-of-banking-code-of-practice-instrument-2019-663/analysis","conflicts":"/api/acts/asic-corporations-approval-of-banking-code-of-practice-instrument-2019-663/conflicts","importantCases":"/api/acts/asic-corporations-approval-of-banking-code-of-practice-instrument-2019-663/important-cases","documents":"/api/acts/asic-corporations-approval-of-banking-code-of-practice-instrument-2019-663/documents"}}