{"id":"F2015L01253","name":"Banking (restricted word or expression) determination No. 1 of 2015","slug":"banking-restricted-word-or-expression-determination-no-1-of-2015","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":143550,"registerId":"commonwealth-F2015L01253-current","compilationNumber":null,"startDate":"2026-04-03","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Banking (restricted word or expression) determination No. 1 of 2015","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\nmeta-generator: Aspose.Words for .NET 20.2\n---\n\n?xml version=\"1.0\" encoding=\"utf-8\" standalone=\"no\"?>\n\n![](image.001.png)\n\nBanking (restricted word or expression) determination No. 1 of 2015\n\nBanking Act 1959\n\n \n\nI, Wayne Stephen Byres, a delegate of APRA:\n\n \n\n(a)     under subsection 66(5) of the Banking Act 1959 (the Act) and subsection 33(3) of the Acts Interpretation Act 1901, REVOKE Banking (restricted word or expression) determination No. 1 of 2006 made on 18 January 2006 under subsection 66(5) of the Act; and\n\n \n\n(b)     under subsection 66(5) of the Banking Act 1959 (the Act) DETERMINE that the expression ‘credit co-operative’ is a restricted expression for the purposes of section 66 of the Act.\n\n \n\nThis determination comes into effect on the date of registration on the Federal Register of Legislative Instruments.\n\n \n\n \n\nDated  6  August 2015\n\n \n\n[Signed]\n\n \n\n…………………………………\n\nWayne Stephen Byres\n\nChair\n\n \n\nInterpretation\n\nIn this Determination:\n\nAPRA means the Australian Prudential Regulation Authority.\n","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1379},"content_quality":"ok","complexity_score":1,"scope_assessment":{"changed":false,"description":"The determination performs exactly the function contemplated by section 66(5) of the Banking Act 1959 — specifying a restricted word or expression. No expansion beyond the original statutory purpose."},"complexity_factors":["Single operative provision determining one specific expression","No conditional logic or exceptions","Only one defined term (APRA)","No internal cross-references beyond the enabling provisions"],"plain_english_summary":"This determination controls who can legally use the term **'credit co-operative'** in Australia.\n\nUnder the *Banking Act 1959*, certain words and expressions are classified as **'restricted'** to stop businesses from misleading people into thinking they are banks or authorized deposit-taking institutions (ADIs — companies officially approved to accept deposits). Only ADIs and entities with special permission from the banking regulator can use restricted terms.\n\n**What this determination does:**\n* **Revokes** the old 2006 determination on the same topic\n* **Adds** the expression **'credit co-operative'** to the list of restricted expressions\n* **Means** that unless you are an authorized deposit-taking institution or have approval from APRA (the Australian Prudential Regulation Authority), you cannot use 'credit co-operative' in your company name, advertising, or business documents\n\nThis protects consumers by ensuring only genuine, regulated financial institutions can use terminology suggesting they offer cooperative banking services."}},"importantCases":[],"_links":{"self":"/api/acts/banking-restricted-word-or-expression-determination-no-1-of-2015","history":"/api/acts/banking-restricted-word-or-expression-determination-no-1-of-2015/history","analysis":"/api/acts/banking-restricted-word-or-expression-determination-no-1-of-2015/analysis","conflicts":"/api/acts/banking-restricted-word-or-expression-determination-no-1-of-2015/conflicts","importantCases":"/api/acts/banking-restricted-word-or-expression-determination-no-1-of-2015/important-cases","documents":"/api/acts/banking-restricted-word-or-expression-determination-no-1-of-2015/documents"}}