Banking (prudential standards) determination No. 1 of 2008 - Prudential Standard APS 510 - Governance
Senior officer outside Australia (foreigSenior officer outside Australia (foreign ADIs)
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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.