Document ID: chunk:federal_register_of_legislation:C2023A00068:clause:2_19
Version: federal_register_of_legislation:C2023A00068
Segment Type: clause
Provision Reference: sch 2 cl 19
Character Range: 47172–47815

19  Directions under BEAR for non‑compliance with BEAR—savings provision

When this item applies
(1) This item applies if:
 (a) before the banking start time, APRA gives a body corporate a direction under section 11CA of the old Banking Act in relation to a contravention of the BEAR; and
 (b) as at the banking start time, APRA has not revoked the direction.

Old Banking Act continues to apply
(2) Despite the repeals and amendments of the Banking Act 1959 made by Part 2 of Schedule 1, the old Banking Act continues to apply, after the banking start time, in relation to the direction, as if those repeals and amendments had not been made.