Overview

The Notice of Name Change of ADI 2026 – Railways Credit Union Ltd Banking Act 1959 is an official instrument issued by Jane Magill, a delegate of the Australian Prudential Regulation Authority (APRA), confirming the change of name of Railways Credit Union Ltd to MOVEBANK LTD. This notice, published in the Gazette on 7 January 2026, aligns with the requirements of the Banking Act 1959, particularly paragraph 9B(1)(b), ensuring that the new name is recognised under the existing section 9 authority that permits the entity to conduct banking business in Australia. This change takes effect immediately upon publication, signifying that the new name will be legally recognised for all banking operations previously authorised under the old name. The enactment of this notice is intended to maintain clarity and continuity in the regulatory oversight of financial institutions, ensuring that the public and regulatory bodies are promptly informed of any significant changes.

Scope and Application

The notice of name change for Railways Credit Union Ltd under the Banking Act 1959 applies to the entity with Australian Business Number (ABN) 91 087 651 090, which has legally transitioned to MOVEBANK LTD. This change is effective as of the date of publication in the Gazette, 7 January 2026, and is issued by Jane Magill, a delegate of the Australian Prudential Regulation Authority (APRA) under the authority granted by the Act. The Act governs financial institutions and banking activities in Australia, ensuring that entities operating under a section 9 authority are compliant with regulatory standards. This particular notification ensures that the legal entity, previously known as Railways Credit Union Ltd, now operates under its new name, MOVEBANK LTD, without any interruption to its banking operations. The jurisdictional reach of this Act is national, applying across Australia, and it mandates that APRA publishes the change in the Gazette and may use other appropriate means to communicate the name change to the public. The notification confirms that the section 9 authority, which permits the entity to conduct banking business in Australia, remains in full effect under the new name.

Key Provisions

The Gazette Notice (C2026G00010) provides the official notification of a name change for Railways Credit Union Ltd to MOVEBANK LTD, as per the Banking Act 1959 (the Act). According to paragraph 9B(1)(b) of the Act, Jane Magill, a delegate of the Australian Prudential Regulation Authority (APRA), has confirmed the change (paragraph 9B(1)(b)). This notification is significant as it confirms that MOVEBANK LTD, with the Australian Business Number (ABN) 91 087 651 090, is now authorised to conduct banking business in Australia under the same section 9 authority previously held by Railways Credit Union Ltd. The name change becomes effective upon the publication of this notice in the Gazette. The Act imposes certain obligations on MOVEBANK LTD in light of the name change. Primarily, MOVEBANK LTD must ensure that all documentation, communications, and records reflect the new name. This includes updating any legal agreements, regulatory filings, and public-facing materials. Furthermore, the entity must notify all stakeholders, including customers, creditors, and regulatory bodies, of the name change. Additionally, MOVEBANK LTD must comply with any additional requirements specified by APRA in relation to the change. Breaches of the obligations outlined in the Gazette Notice may result in various consequences. Firstly, failure to update records and notify stakeholders appropriately could lead to administrative penalties or sanctions from APRA. While the Gazette Notice does not specify maximum penalties, the Act provides a framework under which APRA may impose fines or other sanctions for non-compliance. Additionally, if the name change affects the entity's compliance with other banking regulations, further enforcement actions could be taken. It is crucial for MOVEBANK LTD to adhere to all obligations to avoid any adverse outcomes.