Banking (prudential standard) determination No. 11 of 2006 - Variation to Prudential Standard APS 520 - Fit and Proper (Cth)

Banking (prudential standard) determination No. 11 of 2006

Variation to Prudential Standard APS 520 – Fit and Proper

Banking Act 1959

I, John Francis Laker, a delegate of APRA, under subsection 11AF(3) of the Banking Act 1959 (the Act), VARY Prudential Standard APS 520 (determined on 2 March 2006 to take effect from 1 October 2006) in the manner set out in the Schedule.

This instrument takes effect on the later of 1 October 2006 (immediately after the principal instrument to be varied comes into effect) and the date of registration on the Federal Register of Legislative Instruments.

Dated…22…September 2006

[Signed]

John Francis Laker

Chair

Interpretation

In this Determination

APRA means the Australian Prudential Regulation Authority.

Note 1    Banking (prudential standard) determination No. 1 of 2006 determined APS 520.

Schedule – Variation to Prudential Standard APS 520

Paragraph 9(a) – insert “, except in the case of the senior officer outside Australia referred to in paragraph 15(d),” after “a senior manager of the Australian operations of the foreign ADI who is”.