Banking Act 1959

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

Division 2 - Protection of depositors  

Subdivision A - General provisions relating to depositor protection  

SECTION 13B   Investigators - ADI must provide information and facilities  

(1)    

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An investigator of the affairs of an ADI under section 13 or 13A is entitled to have access to the books, accounts and documents of the ADI, and to require the ADI to give the investigator information or facilities to conduct the investigation.

(1A)    

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An ADI commits an offence if:

(a) the ADI does not give the investigator access to its books, accounts and documents; or

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(b) the ADI fails to comply with a requirement made under subsection (1) for the provision of information or facilities.

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Penalty: 50 penalty units.

Note 1:

Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.

Note 2:

If a body corporate is convicted of an offence against this subsection, subsection 4B(3) of the Crimes Act 1914 allows a court to impose a fine of up to 5 times the penalty stated above.

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History

S 13B(1A) amended by No 82 of 2010 (as amended by No 136 of 2012), s 3 and Sch 6 item 12, by substituting " Penalty " for " Maximum penalty " in the penalty, effective 27 July 2010.

S 13B(1A) substituted by No 154 of 2007, s 3 and Sch 1 item 30, effective 24 September 2007. S 13B(1A) formerly read:

(1A)
An ADI is guilty of an offence if:

(b) the ADI:

(i) does not give the investigator access to its books, accounts and documents; or

(ii) fails to comply with a requirement made under subsection (1) for the provision of information or facilities; and

(c) there is no order in force under section 11 determining that this subsection does not apply to the ADI.

(1B)    

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If the ADI does or fails to do an act in circumstances that give rise to the ADI committing an offence against subsection (1A), the ADI commits an offence against that subsection in respect of:

(a) the first day on which the offence is committed; and

(b) each subsequent day (if any) on which the circumstances that gave rise to the ADI committing the offence continue (including the day of conviction for any such offence or any later day).

Note:

This subsection is not intended to imply that section 4K of the Crimes Act 1914 does not apply to offences against this Act or the regulations.

(2)    
Part 6 of the Australian Prudential Regulation Authority Act 1998 prohibits certain disclosures of information received by investigators under this Act.

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