107Consent to take action that may affect functioning of cash distribution system

107 Consent to take action that may affect functioning of cash distribution system

(1) This section applies if:

(a) a statutory manager of a body corporate (other than the Reserve Bank) proposes to take an action; and

(b) the statutory manager has reasonable grounds to believe that the action would likely pose a threat to the continuity of one or more cash distribution services that are critical to the availability of cash in Australia.

(2) The statutory manager must, before taking the action:

(a) notify the Reserve Bank in writing as soon as practicable; and

(b) obtain the Reserve Bank’s written consent.