{"id":"F2019L00877","name":"ASIC Corporations (Banking Code of Practice – Revocation of 2018 Approval) Instrument 2019/662","slug":"asic-corporations-banking-code-of-practice-revocation-of-2018-approval-instrument-2019-662","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":440145,"registerId":"F2019L00877-fast-fetch-1775955889673","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Corporations (Banking Code of Practice – Revocation of 2018 Approval) Instrument 2019/662","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 (Banking Code of Practice – Revocation of 2018 Approval) Instrument 2019/662\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](#_Toc12345715)\n\n[1 Name of legislative instrument](#_Toc12345716)\n\n[2 Commencement](#_Toc12345717)\n\n[3 Authority](#_Toc12345718)\n\n[4 Definitions](#_Toc12345719)\n\n[Part 2—Revocation](#_Toc12345720)\n\n[5 Revocation of approval of the 2018 Banking Code of Practice](#_Toc12345721)\n\n \n\nPart 1—Preliminary\n\n1 Name of legislative instrument\n\nThis is the ASIC Corporations (Banking Code of Practice – Revocation of 2018 Approval) Instrument 2019/662.\n\n2 Commencement\n\nThis instrument commences the day after it is registered on the Federal Register of Legislation.\n\nNote: The register may be accessed at [www.legislation.gov.au](http://www.legislation.gov.au).\n\n3 Authority\n\nThis instrument is made under paragraph 1101A(4)(a) of the Corporations Act 2001.\n\n4 Definitions\n\nIn this instrument:\n\n2018 Banking Code of Practice means the Banking Code of Practice, published in August 2018 by the Australian Banking Association Incorporated (ABN 60 117 262 978) and approved under subsection 1101A(1) of the Corporations Act 2001 by the ASIC Corporations (Banking Code of Practice) Instrument 2018/700.\n\nPart 2—Revocation\n\n5 Revocation of approval of the 2018 Banking Code of Practice\n\nApproval of the 2018 Banking Code of Practice is revoked.\n","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1494},"content_quality":"ok","complexity_score":1,"scope_assessment":{"changed":false,"description":"The instrument performs exactly the function described in its title—revoking the 2018 approval—without expanding into new regulatory areas, creating new obligations, or adding unexpected provisions."},"complexity_factors":["Only 5 short sections total","Single operative provision (the revocation in section 5)","Only one defined term used throughout","No conditional logic, exceptions, or cross-references to other legislation beyond the basic authority provision","Performs a single, straightforward administrative action"],"plain_english_summary":"This instrument cancels ASIC’s formal approval of the August 2018 Banking Code of Practice, removing the special legal status and related protections that banks relied on under that approval. \n\nIt primarily affects banks subscribed to the 2018 Code and, indirectly, everyday customers; it’s a housekeeping step to clear the way for a newer code to take effect."}},"importantCases":[],"_links":{"self":"/api/acts/asic-corporations-banking-code-of-practice-revocation-of-2018-approval-instrument-2019-662","history":"/api/acts/asic-corporations-banking-code-of-practice-revocation-of-2018-approval-instrument-2019-662/history","analysis":"/api/acts/asic-corporations-banking-code-of-practice-revocation-of-2018-approval-instrument-2019-662/analysis","conflicts":"/api/acts/asic-corporations-banking-code-of-practice-revocation-of-2018-approval-instrument-2019-662/conflicts","importantCases":"/api/acts/asic-corporations-banking-code-of-practice-revocation-of-2018-approval-instrument-2019-662/important-cases","documents":"/api/acts/asic-corporations-banking-code-of-practice-revocation-of-2018-approval-instrument-2019-662/documents"}}