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Home/Legislation/Banking Act 1959/12

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Banking Act 1959

12APRA to protect depositors

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#### 12 APRA to protect depositors (1) It is the duty of APRA to exercise its powers and functions under this Division for the protection of the depositors of the several ADIs and for the promotion of financial system stability in Australia. (2) To avoid doubt, section 8A of the Australian Prudential Regulation Authority Act 1998 (which deals with trans‑Tasman cooperation) applies to the performance of functions and the exercise of powers by APRA under this Division.

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Section 12 - Banking Act 1959 - APRA to protect depositors — Zoe