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Second Reading Speeches

Banking Amendment (Deposits) Bill 2020

Type
Private
Sponsor(s)
ROBERTS, Sen Malcolm
Originating house
Senate
Status
Before Senate
Parliament no
46

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Summary

Amends the

Banking Act 1959
to: provide that the conversion and write-off provisions do not extend to the bail-in of deposit accounts; and provide that nothing in the Act or other Commonwealth legislation gives the Australian Prudential Regulation Authority the power to implement, authorise or direct the implementation of bail-in of deposit accounts.