Financial Sector Legislation Amendment Act (No. 1) 2003 (116 of 2003)

Schedule 2   Banking Act 1959

23   After paragraph 62(1)(c)

Insert:

(ca) if an ADI is a subsidiary of a foreign corporation (whether or not the ADI is itself a foreign ADI):

(i) another subsidiary of the foreign corporation (other than a body mentioned in paragraph (a), (b) or (c) that is incorporated in Australia may be required to give APRA information in respect of the subsidiary; or

(ii) another subsidiary of the foreign corporation (other than a body mentioned in paragraph (a), (b) or (c)) that is not incorporated in Australia and carries on business in Australia may be required to give APRA information in respect of its Australian operations;

23A Subsection 62(2)

Omit “relating to the ADI.”, substitute:

relating to:

(a) the ADI; or

(b) any member of a relevant group of bodies corporate of which the ADI is a member.