Banking Act 1959

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

Division 4 - Mobilization of foreign currency  

SECTION 32   32   Interpretation  
In this Division:

excess receipts of foreign currency
, in relation to an ADI as at a date, means the amount by which the amount of that ADI's surplus foreign currency as at that date exceeds the amount (if any) of its surplus foreign currency as at the commencement of this Part.

sterling
means currency that is legal tender in the United Kingdom.

surplus foreign currency
, in relation to an ADI, means the amount by which the amount of that ADI's assets outside Australia attributable to, or acquired by virtue of, its Australian business exceeds the amount of its liabilities outside Australia attributable to, or incurred by virtue of, its Australian business.




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