Commonwealth Consolidated Acts

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BANKING ACT 1959 - SECT 9E

Authority to carry on banking business in Australia for a limited time--extension

  (1)   This section applies to a body corporate's section   9 authority if the authority is to cease to have effect on a day (the expiry day ) specified in the authority.

  (2)   APRA may, at any time before the expiry day, vary the authority to change the expiry day to a later day.

  (3)   If APRA does so, APRA must:

  (a)   give written notice to the body corporate; and

  (b)   ensure that notice that the variation has been made is published in the Gazette.

  (4)   A failure to comply with subsection   (3) does not affect the validity of the variation.



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