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Banking Act 1959
9EAuthority to carry on banking business in Australia for a limited time—extension
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#### 9E Authority to carry on banking business in Australia for a limited time—extension
(1) This section applies to a body corporate’s section 9 authority if the authority is to cease to have effect on a day (the expiry day) specified in the authority.
(2) APRA may, at any time before the expiry day, vary the authority to change the expiry day to a later day.
(3) If APRA does so, APRA must:
(a) give written notice to the body corporate; and
(b) ensure that notice that the variation has been made is published in the Gazette.
(4) A failure to comply with subsection (3) does not affect the validity of the variation.