CTHRepealedLegislation
Banking (prudential standard) determination No. 2 of 2006 - Prudential Standard APS 510 - Governance
Senior officer outside Australia (foreigSenior officer outside Australia (foreign ADIs)
Start here
Get a plain-English read of Senior officer outside Australia (foreig
Turn the raw legal text into a practical explanation grounded in Banking (prudential standard) determination No. 2 of 2006 - Prudential Standard APS 510 - Governance.
Senior officer outside Australia (foreign ADIs)
- As in the case of locally-incorporated ADIs, the ultimate responsibility for the safety and soundness of a foreign ADI resides with its Board. Foreign ADIs must nominate a senior officer (whether a director or senior executive) outside Australia with delegated authority from the Board who will be responsible for overseeing the Australian branch operation.