{"id":"F2012L00207","name":"Banking (Exemption) No. 1 of 2012","slug":"banking-exemption-no-1-of-2012","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":142581,"registerId":"commonwealth-F2012L00207-current","compilationNumber":null,"startDate":"2026-04-03","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Banking (Exemption) No. 1 of 2012","content":"![](image.001.png)\n\nBanking (Exemption) No. 1 of 2012\n\nBanking Act 1959\n\nI, Charles Watts Littrell, a delegate of APRA, under subsection 11(4) of the Banking Act 1959 (the Act), REVOKE Banking (Exemption) Order No 104 made by APRA on 18 August 2005 under subsections 11(1) and (4) of the Act.\n\nThis instrument takes effect when it is registered on FRLI.\n\n    Dated 31 January 2012\n\n\\[signed\\]\n\n………………………\n\nCharles Watts Littrell\n\nExecutive General Manager\n\nPolicy, Research and Statistics Division\n\nInterpretation\n\nIn this instrument\n\n> APRA means the Australian Prudential Regulation Authority.\n\n> FRLI means the Federal Register of Legislative Instruments established under the Legislative Instruments Act 2003.\n\n> Note 1 Under subsection 11(1) of the Act, [APRA](http://www.austlii.edu.au/au/legis/cth/consol_act/ba195972/s5.html#apra) may, in writing, determine that any or all of the provisions referred to in subsection 11(1) do not apply to a person while the determination is in force.\n\n> Note 2 Under subsection 11(4) of the Act, [APRA](http://www.austlii.edu.au/au/legis/cth/consol_act/ba195972/s5.html#apra) may, in writing, vary or revoke a determination made under section 11.","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":2359},"content_quality":"ok","complexity_score":1,"scope_assessment":{"changed":false,"description":"This instrument performs exactly the narrow function described: it revokes a specific 2005 exemption order. There is no expansion of scope beyond this single revocation."},"complexity_factors":["Single operative provision (revocation of one prior instrument)","Only 2 defined terms (APRA and FRLI)","No conditional logic, exceptions, or internal cross-references","Total length is approximately 200 words"],"plain_english_summary":"**What this does**\n\nThis instrument cancels an old regulatory exemption that allowed a specific financial institution to ignore certain rules under the *Banking Act 1959*.\n\n**Key details**\n\n* **The target**: It revokes \"Banking (Exemption) Order No 104\" from August 2005. That earlier order had waived some Banking Act requirements for a particular person or company.\n* **The effect**: The entity that held the 2005 exemption must now comply with the full rules that were previously waived.\n* **The authority**: The Australian Prudential Regulation Authority (APRA) — the regulator that oversees banks — issued this revocation using its power under section 11 of the Banking Act.\n\n**Why it matters**\n\nWhen APRA removes an exemption, it usually means the institution no longer qualifies for special treatment. This could be because its business changed, or because APRA decided that standard safety regulations should now apply to it."}},"importantCases":[],"_links":{"self":"/api/acts/banking-exemption-no-1-of-2012","history":"/api/acts/banking-exemption-no-1-of-2012/history","analysis":"/api/acts/banking-exemption-no-1-of-2012/analysis","conflicts":"/api/acts/banking-exemption-no-1-of-2012/conflicts","importantCases":"/api/acts/banking-exemption-no-1-of-2012/important-cases","documents":"/api/acts/banking-exemption-no-1-of-2012/documents"}}