Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1697646664133.pdf (Australia)
To Whom It May Concern My name is Quinton Boon.

I write to you with regard to the Banking Amendment (Deposits) Bill 2020 (the Bill), sponsored by Senator Malcolm Roberts (Pauline Hanson’s One Nation).

As an ordinary, law-abiding Australian citizen, I wholly support the Bill in its intent, its meaning, and its effect.
I am making this submission as I believe the legislative intent, meaning, and effect of the Bill shall clarify and improve aspects of the Banking Act 1959 (Cth), the Financial Sector Legislation Amendment (Crisis Resolution Powers and Other Measures) Act 2018 (Cth), and all/any associated legislation.
Indeed, clarification and improvement of such Acts would be beneficial, particularly concerning the matter of Unconventional Monetary Policy, Bail-In procedure(s), or whatever terminology is relevant to the issue(s) such procedure addresses.

The Bill shall clarify such Acts in the matters of (amongst other things): 1.

Defining unambiguously the intent, meaning, and effect of “bail-in” procedure(s), 2.

Defining unambiguously, in the relevant context, the term “deposit account”, 3.
Excluding “deposit accounts” (as defined by the Bill) from being subject to the conversion and write-off provisions under the Banking Act 1959 (Cth), and 4.

Excluding the Australian Prudential Regulatory Authority (APRA) from executing all/any direct and/or indirect power to effect Unconventional Monetary Policy, Bail-In procedure(s), or whatever terminology is relevant to the issue(s) such procedure addresses.
Significantly, this point of clarification shall exclude APRA’s direct and/or indirect power to “bail-in” (etc.)

relevantly-defined “deposit accounts”.

The Bill shall improve such Acts in two ways, primarily: 1.

It shall render the ethical and timeless laws of the Commonwealth of Australia more accessible and comprehensible to ordinary, law-abiding citizens, and 2.

It shall protect such hard-working and honourable Australian citizens from losing their wealth through “bail-in” (etc.)
procedure(s), thus protecting their confidence and hope in Australian banks, the Australian Dollar, and the Australian Parliament.

Sincerely, Quinton Boon.

Banking Amendment (Deposits) Bill 2020Submission 136