Document ID: chunk:federal_register_of_legislation:C2023A00068:clause:2_18
Version: federal_register_of_legislation:C2023A00068
Segment Type: clause
Provision Reference: sch 2 cl 18
Character Range: 46547–47172

18  Contraventions under BEAR—savings provision
(1) Despite the repeal of Part IIAA of the Banking Act 1959 by Part 2 of Schedule 1, the old Banking Act continues to apply, after the banking start time, in relation to a contravention (or an alleged contravention) of a provision of the BEAR that occurs before that time, as if that repeal had not been made.
(2) This item does not limit any other item of this Schedule.
Note: As a result, APRA may have a choice as to whether to deal with BEAR non‑compliance under the old Banking Act or whether to take action under the FAR Act in reliance on item 9 or 16 of this Schedule.