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.

Selected key provisions of the Banking Act

This guidance note explains selected key provisions of the Banking Act, including those relating to the unclaimed money’s regime, and the s 66 controls relating to the used of restricted words and expressions, such as “credit union”.

See Selected key provisions of the Banking Act.