11ELimited application of Division 2 etc. to foreign ADIs

#### 11E Limited application of Division 2 etc. to foreign ADIs (1) The provisions listed in subsection (1A) do not apply in relation to: (a) business of a foreign ADI (other than Australian business assets and liabilities); or (b) the management of a foreign ADI, to the extent that the management relates to such business of the foreign ADI. (1A) The provisions are as follows: (a) sections 12, 13BA and 13C, and Subdivision B of Division 2 (statutory management); (b) subsections 13A(1) to (2), to the extent that those subsections relate to statutory management; (c) sections 62B, 62C, 62D and 62E. (1B) The following provisions do not apply in relation to a foreign ADI: (a) Division 2 (apart from the provisions in that Division listed in subsection (1A)); (b) Division 2AA. (2) A foreign ADI commits an offence if: (a) it accepts a deposit from a person in Australia; and (b) before accepting the deposit, the foreign ADI did not inform the person, in a manner approved by APRA, of the requirements of this Act to which the foreign ADI is not subject because of subsection (1B). Penalty: 50 penalty units. > Note 1: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility. > Note 2: If a body corporate is convicted of an offence against this subsection, subsection 4B(3) of the Crimes Act 1914 allows a court to impose a fine of up to 5 times the penalty stated above. (3) In this section: > asset has the same meaning as in the Financial Sector (Transfer and Restructure) Act 1999. > Australian business assets and liabilities, of a foreign ADI, means the following: (a) the assets and liabilities of the foreign ADI in Australia; (b) any other assets and liabilities of the foreign ADI that: (i) are related to its operations in Australia; and (ii) if regulations are made for the purposes of this subparagraph—are of a kind specified in those regulations. > liability has the same meaning as in the Financial Sector (Transfer and Restructure) Act 1999.