9EAuthority to carry on banking business in Australia for a limited time—extension

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.