Banking Act 1959

Part IIAA - The Banking Executive Accountability Regime  

Division 2 - Accountability obligations  

SECTION 37C   37C   The accountability obligations of an ADI  


The accountability obligations of an ADI are to take reasonable steps to:


(a) conduct its business with honesty and integrity, and with due skill, care and diligence; and


(b) deal with APRA in an open, constructive and cooperative way; and


(c) in conducting its business, prevent matters from arising that would adversely affect the ADI ' s prudential standing or prudential reputation; and


(d) ensure that each of its accountable persons meets his or her accountability obligations under section 37CA ; and


(e) ensure that each of its subsidiaries that is not an ADI complies with paragraphs (a), (b), (c) and (d) as if the subsidiary were an ADI.




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