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

Schedule 1 Amendment of the Banking Act 1959

Repeal the paragraph, substitute:

(a) allows the Minister to make a declaration about an ADI if:

(i) APRA has applied under section 16AAA for the ADI to be wound up; or

(ii) a Banking Act statutory manager is in control of the ADI's business; and