Banking Amendment (Covered Bonds) Act 2011 (125 of 2011)

Schedule 1   Banking Act 1959

19   After subsection 13A(4)

Insert:

(4A) For the purposes of subsection (4):

(a) the ADI’s deposit liabilities are taken not to include an amount equal to the total of the face values of all of the covered bonds issued by the ADI; and

(b) the assets of the ADI are taken not to include:

(i) any interest in an asset (or a part of an asset) in a cover pool for which the ADI is the issuing ADI; or

(ii) any loan to a covered bond special purpose vehicle that relates to an asset (or a part of an asset) in a cover pool for which the ADI is the issuing ADI.