Acts and Instruments (Framework Reform) (Consequential Provisions) Act 2015 (126 of 2015)

Schedule 1   Consequential amendments

Part 1   Main amendments

Banking Act 1959

74   Subsection 16AD(6)

Repeal the subsection, substitute:

Declaration or amendment not disallowable

(6) A declaration made under subsection (1), or an amendment of the declaration, is a legislative instrument, but section 42 (disallowance) of the Legislation Act 2003 does not apply to the declaration or amendment.

Note: Part 4 of Chapter 3 (sunsetting) of the Legislation Act 2003 does not apply to the declaration or amendment: see regulations made for the purposes of paragraph 54(2)(b) of that Act.