Commonwealth legislation

ASIC Corporations (Banking Code of Practice – Revocation of 2018 Approval) Instrument 2019/662

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

1/10 complexity

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.

It 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.

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Current sections

Direct links to the current provisions in ASIC Corporations (Banking Code of Practice – Revocation of 2018 Approval) Instrument 2019/662.

ASIC Corporations (Banking Code of Practice – Revocation of 2018 Approval) Instrument 2019/662

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Commonwealth Coat of Arms and ASIC logo

ASIC Corporations (Banking Code of Practice – Revocation of 2018 Approval) Instrument 2019/662

I, Michael Saadat, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date: 25 June 2019

Michael Saadat

Contents

Part 1—Preliminary

1 Name of legislative instrument

5 Revocation of approval of the 2018 Banking Code of Practice

Part 1—Preliminary

1 Name of legislative instrument

This is the ASIC Corporations (Banking Code of Practice – Revocation of 2018 Approval) Instrument 2019/662.

2 Commencement

This instrument commences the day after it is registered on the Federal Register of Legislation.

Note: The register may be accessed at www.legislation.gov.au.

3 Authority

This instrument is made under paragraph 1101A(4)(a) of the Corporations Act 2001.

4 Definitions

In this instrument:

2018 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.

Part 2—Revocation

5 Revocation of approval of the 2018 Banking Code of Practice

Approval of the 2018 Banking Code of Practice is revoked.

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

meta-content-style-type: text/css meta-content-type: application/xhtml+xml; charset=utf-8

ASIC Corporations (Banking Code of Practice – Revocation of 2018 Approval) Instrument 2019/662

I, Michael Saadat, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date: 25 June 2019

Michael Saadat

Contents

Part 1—Preliminary

1 Name of legislative instrument

5 Revocation of approval of the 2018 Banking Code of Practice

Part 1—Preliminary

1 Name of legislative instrument

This is the ASIC Corporations (Banking Code of Practice – Revocation of 2018 Approval) Instrument 2019/662.

2 Commencement

This instrument commences the day after it is registered on the Federal Register of Legislation.

Note: The register may be accessed at www.legislation.gov.au.

3 Authority

This instrument is made under paragraph 1101A(4)(a) of the Corporations Act 2001.

4 Definitions

In this instrument: