The Banking Act 1959 is Australia’s core law on who may take deposits and how banks must be run. It requires APRA approval for deposit taking, imposes prudential rules and supervision, provides a government backed deposit payout scheme, and gives APRA strong intervention powers to protect stability. It affects everyday depositors, authorised deposit‑taking...

This Act requires prior ministerial notification and approval for significant acquisitions, leases, or control altering agreements affecting Australian insurers, letting the Minister approve, impose conditions, or permanently block deals that harm prudential safety, market competition, or national interest. It affects Australian life and general insurers...

This legislation overhauls Australia’s financial regulatory framework, creating a prudential regulator (APRA) and expanding the securities regulator (ASIC) to strengthen oversight of banks, insurers, superannuation and payment systems. It tightens rules and enforcement, improves disclosure and regulator coordination, and smooths the transition for existing...

This law sets rules for medical indemnity insurance: it prescribes minimum cover (A$5 million per claim, s16), requires certain providers to be regulated insurers (s10), forces insurers to offer retroactive and run‑off cover in specified circumstances (ss22–24, 26A–26C), and gives APRA and ASIC administrative powers (ss28–30). It applies to insurers,...

What it does: The Act gives APRA authority to approve or force transfers of business or shares, and to approve restructures inside banking and insurance groups (ADIs, life and general insurers, NOHCs). Transfers take legal effect when APRA issues a signed certificate and, for partial transfers, must identify the assets/liabilities transferred. Who decides...

This instrument fixes APRA’s charges for providing specified 2024–25 statistical data about financial‑sector entities to the ABS and the RBA, and for development and maintenance of the Economic and Financial Statistics (EFS) collection system and related APIs. It lists the amounts payable by the ABS and RBA, requires payment within 28 days of APRA’s...

The Financial Accountability Regime Act 2023 makes senior executives and boards of banks, insurers and superannuation trustees personally accountable for governance and misconduct, requiring organisations to map responsibilities, register key people and hold back significant variable pay. Regulators can claw back deferred pay, impose fines and disqualify...