Treasury Laws Amendment (Banking Measures No. 1) Act 2018 (9 of 2018)
Schedule 3 Restricted words
Banking Act 1959
3 Subsection 66(1AC)
Repeal the subsection, substitute:
(1AC) It is not an offence against subsection (1) for an ADI to assume or use the words bank , banker or banking in relation to the ADI's financial business.
Note: See also section 66AA, which deals with the use of the word bank by ADIs.
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