{"id":"F2008B00060","name":"Banking (Exemption) Order No. 82","slug":"banking-exemption-order-no-82","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":72225,"registerId":"commonwealth-F2008B00060-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Banking (Exemption) Order No. 82","content":"COMMONWEALTH OF AUSTRALIA\n\nBANKING ACT 1959\n\nORDER OF EXEMPTION\n\nI, JAMES ROBERT SHORT, Assistant Treasurer acting for and behalf of the Treasurer, make\n\nthe following Order under section 11 on the Banking Act 1959.\n\nCitation\n\n1.  This order may be cited as the Banking (Exemption) Order No. 82.\n\nApplication of Order\n\n2. This order applies to foreign corporations, authorised as banks in their home countries, that\n\nraise funds in the Australian wholesale capital market by way of issuing securities.\n\n3. Subject to clause 4, each corporation to which this Order applies is exempt from compliance\n\nwith section 66 of the Banking Act 1959 to the extent that the section prohibits the corporation from\n\nusing the word ‘bank’ or ‘banker’ or ‘banking’ in relation to the business of raising funds in the\n\nAustralian wholesale capital market by way of issuing securities.\n\nConditions\n\n4. This Order is subject to the following conditions:\n\n(a) the securities being offered and/or traded in parcels of not less than A$500,000; and\n\n(b) it being clearly stated on the securities and any related information memoranda that the\n\nsecurities are being issued by a bank that is not authorised under the Banking Act 1959.\n\nDated 23 September 1996\n\nJAMES SHORT\n\nAssistant Treasurer","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1554},"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The Order remains tightly scoped to its original purpose of permitting foreign banks to use banking terminology specifically for wholesale capital raising activities. No expansion beyond the original exemptive intent is evident."},"complexity_factors":["Only 4 operative clauses total","References external legislation (Banking Act 1959, ss 11 and 66) without reproducing the text","Contains just two specific conditions: a monetary threshold (A$500,000) and a disclosure requirement","No definitions section or interpretive provisions","No nested exceptions or conditional logic"],"plain_english_summary":"This Order lets foreign banks use the word “bank” in Australia without an Australian banking licence when they raise funds in the wholesale capital market (issuing securities to institutional investors).  \n\nQualification requires home‑country banking authorization and Australian securities issuance; offers must be in parcels of at least A$500,000 and documents must state the issuer is not authorised under the Australian Banking Act—facilitating market access while protecting retail investors."}},"importantCases":[],"_links":{"self":"/api/acts/banking-exemption-order-no-82","history":"/api/acts/banking-exemption-order-no-82/history","analysis":"/api/acts/banking-exemption-order-no-82/analysis","conflicts":"/api/acts/banking-exemption-order-no-82/conflicts","importantCases":"/api/acts/banking-exemption-order-no-82/important-cases","documents":"/api/acts/banking-exemption-order-no-82/documents"}}