Banking Act 1959

Part II - Provisions relating to the carrying on of banking business  

Division 1 - Authority to carry on banking business  

SECTION 9E   Authority to carry on banking business in Australia for a limited time - extension  

(1)    
This section applies to a body corporate ' s section 9 authority if the authority is to cease to have effect on a day (the expiry day ) specified in the authority.

(2)    
APRA may, at any time before the expiry day, vary the authority to change the expiry day to a later day.

(3)    
If APRA does so, APRA must:

(a) give written notice to the body corporate; and

(b) ensure that notice that the variation has been made is published in the Gazette.

(4)    
A failure to comply with subsection (3) does not affect the validity of the variation.

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