Document ID: chunk:federal_register_of_legislation:C2004A03877:front:0:p9
Version: federal_register_of_legislation:C2004A03877
Segment Type: other
Provision Reference: 
Character Range: 20863–23590

Governor of the Reserve Bank is satisfied that a report on specified prudential matters in relation to a bank is necessary, the Reserve Bank may, in writing, appoint a person to investigate and report on those specified prudential matters in relation to that bank.
"(2) The bank:
    (a) shall afford the person access to its books, accounts and documents; and
    (b) shall give to the person such information and facilities as the person requires to conduct the investigation.
"(3) Nothing in this section is intended to limit the operation of any other provision of this Act.".

Supply of information
17. Section 62 of the Principal Act is amended:
    (a) by adding at the end of subsection (2) ", unless the information is in respect of prudential matters relating to a bank";
    (b) by adding at the end the following subsections:
    "(3) Nothing in Part VI restricts the powers conferred by this section.
    "(4) The Secretary to the Department of the Treasury may request the Reserve Bank to give to the Secretary a copy of particular information that:
       (a) was given to the Reserve Bank under subsection (1); or
       (b) was derived from such information.
    "(5) Subject to subsection (6), the Reserve Bank shall comply with the request.
    "(6) If:
       (a) the Reserve Bank receives a request under subsection (4) for a copy of particular information; and
       (b) the Reserve Bank certifies that the information is of a kind that the Reserve Bank uses only in connection with prudential matters relating to one or more banks;
    the Reserve Bank is not required to comply with the request.".

Settlement of balances between banks
18. Section 64 of the Principal Act is amended by omitting "trading" (wherever occurring).

19. Sections 66 and 67 of the Principal Act are repealed and the following sections are substituted:

Restriction on use of word "bank" etc.
"66. (1) Except with the consent in writing of the Treasurer, a person (not being a bank) shall not, in Australia, assume or use a bank-related word in relation to a financial business carried on by the person (whether or not in Australia).
"(2) The Treasurer may, at any time, by notice in writing served on the person concerned:
    (a) impose conditions, or additional conditions, on a consent;
    (b) vary or revoke conditions imposed on a consent; or
    (c) revoke a consent.
"(3) Where a consent is subject to conditions, the person to whom the consent is given shall comply with those conditions.
"(4) In this section:
    (a) a reference to a bank-related word is a reference to:
        (i) the word 'bank', 'banker' or 'banking'; or
        (ii) any word of a like import (whether or not in English);
    (b) a reference