Banking (prudential standard) determination No. 15 of 2006 Variation to Prudential Standard APS 510 Governance (Cth)

Banking (prudential standard) determination No. 15 of 2006

Variation to Prudential Standard APS 510 Governance

Banking Act 1959

I, John Francis Laker, Chair of APRA, under subsection 11AF(3) of the Banking Act 1959 (the Act), VARY prudential standard APS 510 (determined on 5 May 2006 to take effect from 1 October 2006) in the manner set out in the Schedule.

This instrument takes effect on the date of registration on the Federal Register of Legislative Instruments.

Dated   19 December 2006

[Signed]

John Francis Laker

Chair

Interpretation

In this Determination

APRA means the Australian Prudential Regulation Authority.

Note 1                    Banking (prudential standard) determination No. 2 of 2006 determined APS 510.

Schedule

Variation to Prudential Standard APS 510

a.   Paragraph 33 – after the work “framework” in line 3 add the words “unless, with respect to risk management, there is another Board Committee which carries out this function”.