CTHRepealedLegislation
Banking (prudential standard) determination No. 2 of 2006 - Prudential Standard APS 510 - Governance
Commencement and transitional arrangemenCommencement and transitional arrangements
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Commencement and transitional arrangements
- This Prudential Standard commences on 1 October 2006.
Note: Paragraphs 61 and 62 have been deleted.
- Upon commencement of this Prudential Standard, the auditor rotation and independence requirements required by paragraph 55 will apply. However the auditor of an ADI (including a foreign ADI) not previously subject to the auditor rotation provisions in the Corporations Act can continue in this role even if they have already been the auditor for five successive years, or more than five out of seven successive years upon commencement of this Prudential Standard, for a further period of not more than two years from the date of commencement of this Prudential Standard.