APRA reviews right to use “bank”

Australian Prudential Regulation Authority (APRA) is inviting submissions to its review of the current guidelines for approval to use the term ‘bank’ (under Section 66 of the Banking Act).

APRA’s current criteria for granting consent to use restricted words are set out in Guidelines: Implementation of Section 66 of the Banking Act 1959, January 2006 and ADI Authorisation Guidelines, April 2008.

Written submissions should be forwarded to APRA by 31 January 2011.

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