Banking Act 1959

Part IIB - Provisions relating to the non-ADI lenders  

Division 2 - Non-ADI lender rules  

SECTION 38D   Non-ADI lender rules revoked after 2 years  

(1)  
A non-ADI lender rule is revoked at the end of the period of 2 years beginning on the day the rule is made.

(2)  
If, at any time during that period, APRA considers that the conditions in subsection 38C(1) still apply in relation to the non-ADI lender rule, APRA may, by written instrument, extend (or further extend) the period for a period of 2 years beginning on the day the instrument is made.

Note:

An extension under this subsection does not affect the operation of Part 4 of Chapter 3 (sunsetting) of the Legislation Act 2003 .


 

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