Banking Act 1959

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

Division 2 - Protection of depositors  

Subdivision B - Provisions dealing with control of a body corporate ' s business by a Banking Act statutory manager  

SECTION 14AD   APRA may require a person to give information etc. for the purposes of this Division  

APRA may require person to give information etc.

(1)  


APRA may require a person, by written notice given to the person, to give APRA information, or documents containing information, relating to the business of a body corporate that has a Banking Act statutory manager if:


(a) in a case where the Banking Act statutory manager is APRA:


(i) APRA believes, on reasonable grounds, that the person has such information or documents; and

(ii) APRA requires the information or documents for the purposes of this Division; and


(b) in a case where the Banking Act statutory manager is not APRA:


(i) the Banking Act statutory manager requests, in writing, that APRA require the person to give the information or documents under this subsection; and

(ii) APRA believes, on reasonable grounds, that the person has such information or documents; and

(iii) APRA is satisfied that the Banking Act statutory manager requires the information or documents for the purposes of this Division.

(2)  
The notice:


(a) must specify a period within which the information or documents must be given to APRA; and


(b) may specify the form and manner in which the information or documents must be given to APRA.

(3)  
The period specified under paragraph (2)(a) must be reasonable in all the circumstances. Offence

(4)  
A person commits an offence if:


(a) APRA requires the person to give APRA information or documents under subsection (1); and


(b) the person refuses or fails to give the information or documents as required.

Penalty: Imprisonment for 12 months or 50 penalty units, or both.

Self incrimination

(5)  
A person is not excused from complying with a requirement under subsection (1) to give information or documents on the ground that doing so would tend to incriminate the individual or make the individual liable to a penalty.

(6)  
However, in the case of an individual:


(a) the information or document given; and


(b) giving the information or document; and


(c) any information, document or thing obtained as a direct or indirect consequence of giving the information or document;

are not admissible in evidence against the individual in a criminal proceeding or a proceeding for the imposition of a penalty, other than a proceeding in respect of the falsity of the information or document.

Section 14A not limited

(7)  
This section does not limit section 14A .




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