Banking Act 1959

Part II - Provisions relating to the carrying on of banking business  

Division 3A - Covered bonds  

SECTION 28   28   Restrictions on issuing covered bonds - 8% rule  

An ADI must not issue a covered bond if the combined value of assets in cover pools securing covered bonds issued by the ADI would exceed 8%, or such other percentage as is prescribed by the regulations, of the value of the ADI ' s assets in Australia.

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