Document ID: chunk:federal_register_of_legislation:F2018L01477:schedule:1
Version: federal_register_of_legislation:F2018L01477
Segment Type: schedule
Provision Reference: sch 1
Character Range: 5233–9960

Schedule 1 – assumption or use of restricted words or expressions

Column 1                                                                                                    Column 2                                                                                                                                                 Column 3

Restricted words and expressions                                                                            Class of Persons                                                                                                                                         Conditions

building society                                                                                            Building Societies                                                                                                                                       A Building Society may use the expression building society.

credit union, credit society and credit               co-operative                                          Credit Unions                                                                                                                                            A Credit Union may use the expressions credit union, credit society and credit co-operative.

bank, banker, banking, building society, credit union, credit society or credit               co-operative  trustees of a superannuation entity of which all members are officers or employees, or former officers or employees, of an ADI (ADI staff fund trustee)  An ADI staff fund trustee may use the restricted words or expressions bank, banker, banking, building society, credit union, credit society or credit co-operative only as part of:
                                                                                                                                                                                                                                                                     (a)          the trustee's name; and
                                                                                                                                                                                                                                                                     (b)          the superannuation entity's name,

                                                                                                                                                                                                                                                                     provided that:
                                                                                                                                                                                                                                                                     (c)          the ADI staff fund trustee assumes or uses the name of an ADI as part of the trustee's name or the superannuation entity's name;
                                                                                                                                                                                                                                                                     (d)          the words or expressions are assumed or used by the ADI as part of its name, and the ADI is permitted to use the word under the Act or APRA has consented to that assumption or use; and
                                                                                                                                                                                                                                                                     (e)          the words or expressions are not used in a misleading or deceptive way.

                                                                                                                                                                                                                                                                     Note 1: An example of using in a misleading or deceptive way is using to suggest that the trustee or the superannuation entity is a bank, building society, credit union, credit society or credit co-operative, where that is not the case.

                                                                                                                                                                                                                                                                     Note 2: Nothing in this instrument is intended to authorise any act that infringes on a person's rights under, or contravenes, any other law.