Financial Sector Legislation Amendment (Crisis Resolution Powers and Other Measures) Act 2018 (10 of 2018)

Schedule 1   Amendment of the Banking Act 1959

Part 1   Main amendments

Banking Act 1959

146   Subsection 14B(1)

Repeal the subsection, substitute:

Types of recommendation

(1) An administrator of a body corporate's business may make any of the following recommendations to APRA, by instrument in writing given to APRA:

(a) that APRA make a particular direction under Division 1BA, subsection 14D(3) or section 29 in respect of the body corporate;

(b) that APRA apply for the body corporate to be wound up;

(c) if the body corporate is an ADI - that APRA revoke the ADI's section 9 authority;

(d) if the body corporate is an authorised NOHC - that APRA revoke the authorised NOHC's authority under subsection 11AA(2).