Financial Accountability Regime (Consequential Amendments) Act 2023 (68 of 2023)

Schedule 2   Application, saving and transitional provisions

Part 2   Banking sector

Division 3   Notification obligations

14   Notification obligations under BEAR - savings provision

(1) Despite the repeal of Part IIAA of the Banking Act 1959 by Part 2 of Schedule 1, the old Banking Act continues to apply, after the banking start time, in relation to an obligation covered by subitem (2) and arising before that time, as if that repeal had not happened.

(2) For the purposes of subitem (1), the obligations are any of the following:

(a) an obligation under paragraph 37F(1)(a) of the old Banking Act to notify APRA of a change to an accountability statement;

(b) an obligation under paragraph 37F(1)(b) of the old Banking Act to notify APRA of a change to an accountability map;

(c) an obligation under paragraph 37F(1)(c) of the old Banking Act to notify APRA of an event.