Banking Regulation 2016 (Cth)

Banking Regulation 2016

I, General the Honourable Sir Peter Cosgrove AK MC (Ret'd), Governor‑General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulation.

Dated 08 December 2016

Peter Cosgrove Governor‑General

By His Excellency's Command

Scott Morrison Treasurer

Contents Part 1—Preliminary 1 Name 2 Commencement 3 Authority 4 Schedules 5 Definitions 6 Banking business—purchased payment facilities Part 2—Financial claims scheme 7 Protected accounts 8 Accounts that are not protected accounts 9 Support that is not external support 10 Clearance period 11 Financial claims scheme—limit on payments 12 Payment of entitlements to certain kinds of accounts by APRA 13 Recovery of overpayments 14 Liquidator must admit debt or claim over the limit 15 Payment of distributions to certain kinds of accounts by liquidator 16 Disclosure of information by APRA or liquidator to ADI regarding establishment of account Part 3—Unclaimed moneys Division 1—Specified accounts and conditions 17 Scope of Division 18 Linked accounts 19 Sub accounts 20 Frozen accounts 21 Security, set‑off or escrow accounts 22 Controlled accounts Division 2—Unclaimed moneys: other matters 23 Accounts to which subsection 69(1) of the Act does not apply 24 Deposits to which subsection 69(1) of the Act do not apply 25 Annual statement of unclaimed moneys 26 Interest payable Schedule 1—Repeals Banking Regulations 1966 Banking (Savings Banks) Regulations (Statutory Rules 1960 No. 6) Banking (Unclaimed Moneys) Regulations 1992 (Statutory Rules 1992 No. 117) Banking (Unclaimed Moneys) Regulations 1993 (Statutory Rules 1993 No. 378) Commonwealth Bank (Conversion into Public Company) Regulations (Statutory Rules 1991 No. 56) Commonwealth Banking Corporation Service Regulations (Statutory Rules 1960 No. 5) Commonwealth Banks Regulations (Statutory Rules 1960 No. 4) Papua New Guinea (Transfer of Banking Business) Regulations (Statutory Rules 1974 No. 55) Proceeds of Crime (Commonwealth Bank of Australia) Regulations (Statutory Rules 1993 No. 328)