Authority to carry on banking business 2023 – IN1Bank Ltd
Banking Act 1959
To: IN1Bank Ltd ABN 62 627 541 011 (the body corporate)
SINCE
- On 12 December 2019, APRA:
(i) under subsection 9(3) of the Banking Act 1959 (the Act), granted the body corporate authority to carry on banking business in Australia for a limited time (the Authority); and
(ii) under paragraph 9AA(1)(a) of the Act, imposed conditions on the Authority (the Authority Conditions); and
B. On 16 June 2021, the Authority was varied to change the expiry date of the Authority to 12 December 2022;
C. On 12 September 2022, the Authority was further varied to change the expiry date of the Authority to 12 June 2023;
D. The body corporate has applied in writing to APRA:
(i) under subsection 9(2) of the Act, for an authority to carry on banking business in Australia that is not subject to a time limit; and
(ii) for the Authority Conditions to be revoked, I, Renée Roberts, a delegate of APRA:
(a) under subsection 9D(6) of the Act, VARY the Authority to remove the time limit that applies to the Authority; and
(b) under paragraph 9AA(1)(b) of the Act, REVOKE the Authority Conditions.
This instrument commences on the day it is made.
Dated: 25 May 2023
Renée Roberts Executive Director Banking Division
Interpretation
In this instrument:
APRA means the Australian Prudential Regulation Authority.
banking business has the meaning given in subsection 5(1) of the Act.
Notes
APRA is required to publish this instrument in the Gazette, and may also publish this instrument in any other way that APRA considers appropriate.
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