Banking Act 1959
View history note
Hide history noteIf a reviewable decision of APRA is made and notice in writing of the decision is given to a person affected by the decision, the notice is to include a statement to the effect that: (a) the person may, if dissatisfied with the decision, seek a reconsideration of the decision by APRA in accordance with subsection 51B(1) ; and (b) a person whose interests are affected by the decision may, subject to the Administrative Appeals Tribunal Act 1975 , if dissatisfied with a decision made by APRA upon that reconsideration confirming or varying the first-mentioned decision, apply to the Administrative Appeals Tribunal for a review of the decision so confirmed or varied.
[ CCH Note: S 51D(1) will be amended by No 39 of 2024, s 3 and Sch 14 items 7 and 8, by substituting " Administrative Review Tribunal Act 2024 " for " Administrative Appeals Tribunal Act 1975 " and " Administrative Review Tribunal " for " Administrative Appeals Tribunal " in para (b), effective at the same time as the Administrative Review Tribunal Act 2024 commences. However, the provisions do not commence at all if that Act does not commence.]
(2)
A notice given to a person under subsection (1) may impose conditions relating to the disclosure of any information setting out reasons for the decision that is contained in, or in a document accompanying, the notice.
(3)
A person commits an offence if the person fails to comply with a condition imposed under subsection (2) .
Penalty: Imprisonment for 2 years.
Note:
Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.
(4)
If APRA confirms or varies a decision under subsection 51B(3) and gives to a person notice in writing of the confirmation or variation of the decision, the notice is to include a statement to the effect that a person whose interests are affected by the decision may, subject to the Administrative Appeals Tribunal Act 1975 , if dissatisfied with the decision so confirmed or varied, apply to the Administrative Appeals Tribunal for review of the decision.
[ CCH Note: S 51D(4) will be amended by No 39 of 2024, s 3 and Sch 14 items 9 and 10, by substituting " Administrative Review Tribunal Act 2024 " for " Administrative Appeals Tribunal Act 1975 " and " Administrative Review Tribunal " for " Administrative Appeals Tribunal " , effective at the same time as the Administrative Review Tribunal Act 2024 commences. However, the provisions do not commence at all if that Act does not commence.]
(5)
Any failure to comply with the requirements of subsection (1) or (4) in relation to a decision does not affect the validity of the decision.
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