Banking Amendment (Covered Bonds) Act 2011 (125 of 2011)
Schedule 1 Banking Act 1959
19 After subsection 13A(4)
Insert:
(4A) For the purposes of subsection (4):
(a) the ADI’s deposit liabilities are taken not to include an amount equal to the total of the face values of all of the covered bonds issued by the ADI; and
(b) the assets of the ADI are taken not to include:
(i) any interest in an asset (or a part of an asset) in a cover pool for which the ADI is the issuing ADI; or
(ii) any loan to a covered bond special purpose vehicle that relates to an asset (or a part of an asset) in a cover pool for which the ADI is the issuing ADI.
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