Banking Act 1959

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

Division 2 - Protection of depositors  

Subdivision A - General provisions relating to depositor protection  

SECTION 13   ADI to supply information to APRA  

(1)   APRA ' s power to obtain information  

APRA may, by notice in writing to an ADI, require the ADI to supply it, within the time specified in the notice, with such information relating to the ADI ' s financial stability as is specified in the notice.

The requirement to supply information may include a requirement to supply books, accounts or documents.

(2)  
The information supplied in compliance with a requirement under subsection (1) must, if required by the notice, be verified by a statutory declaration made by an officer of the ADI concerned who is authorised by the ADI to make the declaration.

(3)   Information to be supplied if ADI unable, or likely to be unable, to meet obligations  

An ADI commits an offence if:


(a) the ADI considers that it is likely to become unable to meet its obligations, or that it is about to suspend payment; and


(b) the ADI does not immediately inform APRA of the situation.


(c) (Repealed by No 154 of 2007)

Penalty: 200 penalty units.

Note 1:

Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.

Note 2:

If a body corporate is convicted of an offence against this subsection, subsection 4B(3) of the Crimes Act 1914 allows a court to impose a fine of up to 5 times the penalty stated above.

(3A)  
An offence against subsection (3) is an indictable offence.

(4)   APRA ' s power to investigate or appoint an investigator if information etc. not provided  

APRA may investigate the affairs of an ADI, or appoint a person to do so, if the ADI fails to comply with a requirement to provide information, books, accounts or documents under this section.

(5)   Interpretation  

In this section:

officer
, in relation to an ADI, has the same meaning as in section 11CG .

(6)  


To avoid doubt, this section applies to an ADI that is, or becomes, a Chapter 5 body corporate (within the meaning of the Corporations Act 2001 ) in the same way as this section applies to any other ADI.

 

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.