Banking Act 1959

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

Division 2AA - Financial claims scheme for account-holders with insolvent ADIs  

Subdivision F - Disclosure of information relating to new accounts  

SECTION 16AT   APRA or liquidator to disclose information to ADI  

(1)  
This section applies if, on behalf of an account-holder with an entitlement under Subdivision C :


(a) APRA establishes an account with an ADI under section 16AH ; or


(b) a liquidator establishes an account with an ADI under section 16AR .

(2)  
In the circumstances prescribed by the regulations, whichever of APRA and the liquidator established the account must disclose to the ADI the information (if any) that:


(a) is connected with the establishment of the account; and


(b) is prescribed by the regulations for the purposes of this paragraph.

(3)  
The regulations may prescribe different information in relation to different circumstances for disclosure.

(4)  
The information prescribed by the regulations may be personal information about the account-holder (if he or she is an individual). This does not limit the information that may be prescribed by the regulations.


 

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