Banking Act 1959

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

Division 1AA - Authority to be a NOHC of an ADI  

SECTION 11AC   Bodies that cease to exist or change their names  

(1)  
If APRA is satisfied that a body corporate that has been granted a NOHC authority:


(a) has ceased to exist; or


(b) has changed its name;

APRA must cause notice of that fact to be published in the Gazette . APRA may also cause notice of that fact to be published in any other way it thinks appropriate.

(2)  
If the body corporate has ceased to exist, any NOHC authority granted to the body corporate that is still in force is taken to be revoked on publication of the notice in the Gazette .

(3)  
If the body corporate has changed its name, any NOHC authority granted to the body corporate that is still in force has effect after the publication of the notice in the Gazette as if it had been granted to the body under its changed name.




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