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LexisNexis Practical Guidance®
Straightforward guidance across a range of topics
- Regulation
- Banking Act — the essentials
Introduction to the Banking Act and selected key definitions
In terms of “banking regulation” in Australia, legal principles in banking and finance law are drawn from a range of legislation. The most obvious one to legal practitioners would be the Banking Act 1959 (Cth) (Banking Act). It is useful for legal practitioners to note that the Banking Act serves a number of purposes, including to regulate banking, and to make provision for the protection of currency.
This guidance note introduces the Banking Act and explains selected key definitions of the Banking Act, including “bank”, “authorised deposit-taking institutions” or “ADIs”, and “banking business”.
See Introduction to the Banking Act and selected key definitions.
