Document ID: chunk:federal_register_of_legislation:F2021L00425:clause:1_6
Version: federal_register_of_legislation:F2021L00425
Segment Type: clause
Provision Reference: sch 1 cl 6
Character Range: 2878–5158

6  Size of an ADI
 (1) This section determines, for the purposes of subsection 37G(3) of the Banking Act 1959, the kinds of ADIs that are large ADIs, medium ADIs and small ADIs.
 (2) An ADI is a large ADI at a time during a financial year if its total asset size at the start of the financial year is or exceeds $107 billion (indexed in accordance with section 9).
 (3) An ADI is a medium ADI at a time during a financial year if its total asset size at the start of the financial year exceeds $10 billion (indexed in accordance with section 9) and is less than $107 billion (indexed in accordance with section 9).
 (4) An ADI is a small ADI at a time during a financial year if:
 (a) its total asset size at the start of the financial year does not exceed $10 billion (indexed in accordance with section 9); or
 (b) as at the start of the financial year, it has not yet submitted a final report for any previous financial year.
 (5) An ADI's total asset size at the start of a financial year is:
 (a) if, as at the start of that financial year, the ADI has submitted a final report for only one earlier financial year—the ADI's total resident assets value (see section 7) in that final report; or
 (b) if, as at the start of that financial year, the ADI has submitted final reports for only 2 earlier financial years—the average of the total resident assets value in the final report for each of those financial years; or
 (c) if, as at the start of that financial year, the ADI has submitted final reports for 3 or more earlier financial years—the average of the total resident assets value in the final report for each of the 3 most recent of those earlier financial years.
 (6) For the purposes of subsection (5):
 (a) if an ADI has submitted final reports for a financial year ending on or before 30 June 2019 under both Reporting Standard ARS 720.0 and Reporting Standard ARS 320.0, take into account only the total resident assets value in the final report under Reporting Standard ARS 320.0; and
 (b) if an ADI has submitted final reports for a financial year ending after 30 June 2019 under both Reporting Standard ARS 720.0 and Reporting Standard ARS 323.0, take into account only the total resident assets value in the final report under Reporting Standard ARS 720.0.